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...energy sector. And be warned that prices could fall a lot farther than 10% if the world economy weakens. Which wouldn't be a bad thing, for consumers or investors. The next global slowdown will be the time to back up the truck and load up on a diversified mix of energy stocks or energy-oriented stock mutual funds for the long term...

Author: /time Magazine | Title: Market Note: Katrina and Oil Stocks | 9/15/2005 | See Source »

...them for what the hurricane left behind. With the city all but emptied, it is no longer the party town of popular imagination. Nor is it the teeming mess of violent desperation it became in the storm's wake. Much of it remains under water, stewing in a putrid mix of chemicals and corpses. But in parts of the city, the floodwaters receded sufficiently last week to reveal something strange and new: part frontier outpost, part fetid deathscape, where the drowned and the saved coexisted for days because neither had any other place...

Author: /time Magazine | Title: Life Among the Ruins | 9/12/2005 | See Source »

Having survived the storm and the chaos that followed, those who remained in the city absorbed the evacuation orders with a mix of resignation and rage. Tom Drummond, a bassist with the alternative rock band Better Than Ezra, performed on the CBS Early Show two days before Katrina hit. Although his home in the Garden District survived, his wife's new clothing store was looted in the hurricane's aftermath, only days after her fall collection had arrived. Drummond plans to tour while his wife stays with her family in McComb, Miss. "Got to go where...

Author: /time Magazine | Title: Life Among the Ruins | 9/12/2005 | See Source »

...returned to New Zealand to take a shot at winning the seat of Helensville, west of Auckland, in 2002. Behind the wheel of a musty camper van emblazoned with his smiling face, the personable Key is talking about the quirks of his rural electorate by the sea, with its mix of farmers, retirees, Auckland workers and alternative lifestylers - and about the main contest. "We have to create a bigger economy, not just change the way we slice it up." Yes, the tax package he designed is offering big tax cuts. No, the government won't have to borrow...

Author: /time Magazine | Title: A Victim Of Success | 9/12/2005 | See Source »

...Orleans now is the smell, a gagging foulness of the charnel, of the hundreds of bloated fish pooled in the 17th Street Canal and a million other nasty things floating everywhere. The masterless dogs are so hungry and delirious in the 92° heat that they drink this mix, at least a lap or two, and then stagger away. The city smells dead, and although the French Quarter and a few other areas were blessedly spared, whatever exists in many neighborhoods here a year from now will be vastly different...

Author: /time Magazine | Title: Mopping New Orleans | 9/11/2005 | See Source »

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