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...Deflation may not have had a bad name until it hit the Japanese economy in the early 1990s. The financial activity in the Asian nation went into a long hibernation. The pace of commerce slowed to a point which had not been seen in the modern history of the country...

Author: /time Magazine | Title: Deflation: The Enemy Of A Depression | 1/16/2009 | See Source »

...temperas are in major American museums, from Manhattan's Met and Modern to Houston's Museum of Fine Arts.* His shows are thronged: 247,800 people went to a month-long Wyeth show in Buffalo last year. Last summer, when President Kennedy picked a painter to be among the first winners of the Medal of Freedom-the U.S.'s highest civilian honor-it was quite inevitable that the choice would be Wyeth. A fortnight ago, President Johnson presented it to him with a citation declaring that "he has in the great humanist tradition illuminated and clarified...

Author: /time Magazine | Title: TIME Cover: Andrew Wyeth's World | 1/16/2009 | See Source »

...years old, is one of the most durable and disquieting images of 20th century America. Against the wall of landscape that leads up to her house, the crippled body of an ageless woman seems trapped, imprisoned by the very emptiness of the earth. Manhattan's Museum of Modern Art, which hesitated before buying it in 1948 for $2,200, has repaid its investment 22 times over in the sale of reproductions...

Author: /time Magazine | Title: TIME Cover: Andrew Wyeth's World | 1/16/2009 | See Source »

...foreigners recognize his existence, although the abstract expressionists are well known abroad, and even the Pop artists have attained some vogue. When Bernard Dorival, director of Paris' Museum of Modern Art, was asked about Wyeth, he replied, "Who? But perhaps we pronounce his name differently here." Wyeth returns the compliment. He has never felt the need to go to Europe-or, for that matter, to much of anywhere else that is very far from Chadds Ford or Cushing...

Author: /time Magazine | Title: TIME Cover: Andrew Wyeth's World | 1/16/2009 | See Source »

...said to the Congress, You pass it, I'll sign it," Oberstar recalled on a recent morning in his Capitol Hill office. The only problem was, the infrastructure system wasn't set up for quick infusions of cash. The City of Grand Rapids, Minn., for example, asked for a modern water-treatment facility. "We said, 'Fine, we'll give you a grant.' It took them two years to get the thing under way," Oberstar says with a chuckle...

Author: /time Magazine | Title: Congress's Point Man on Infrastructure Spending | 1/16/2009 | See Source »

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