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When Chinese stock markets soared into nosebleed territory, quadrupling in 2006-07, Chinese mom-and-pop investors tried to convince themselves they would be spared bloody noses because Beijing was hosting the 2008 Summer Olympics. Feel-good investor sentiment surrounding the August Games, the thinking went, would prop up overvalued stocks, allowing time for revenues of booming Chinese companies to grow into their inflated share prices. When markets were peaking last fall, some investors predicted that the government would tweak the economy to keep it roaring during the Olympics year, and that if all else failed, China's regulators would...

Author: /time Magazine | Title: Fool's Gold | 4/17/2008 | See Source »

...candidate in the race whose mother once collected food stamps. That's why he has rolled out the endorsements of Bruce Springsteen and the American Hunters and Shooters Association and put more emphasis on what he shares with working-class voters. He talked about the struggles of his single mom, and the fact that he and his wife had to take out student loans to finance their law-school educations--loans they didn't finish paying off until five or six years ago. (Though, of course, that would be Harvard Law School.) "This is a guy who, when he talks...

Author: /time Magazine | Title: Obama's Bitter Lesson | 4/17/2008 | See Source »

Though I had even higher aspirations, apparently my mom was so impressed with my graduation from sixth grade that she bought me a gift: an incredibly cool gold-chain necklace. The chain said to all who saw it, Sure, I may look like an honor student who is bad at sports and gets stomachaches before parties, but I am actually capable of horrific violence, passionate lovemaking and savage indifference to a tribe of orcs with my +2 broadsword. I wore that chain every day, from sixth grade to 17th grade, when my new girlfriend told me I had to take...

Author: /time Magazine | Title: Joel Stein Sells His Gold | 4/17/2008 | See Source »

...middle of the Yard, and two kids in a row had just peed on John Harvard. This prefrosh kid who looked like his mom had dressed him was just standing there swaying, retardedly drunk. He decided he wanted to climb John Harvard, but couldn’t. So this kid tried to shimmy up John Harvard’s freshly-peed-on, urine-soaked leg, and tried to pee on it. Of course, he pretty much missed and just peed all over himself before stumbling away...

Author: By Sarah B. Schechter, CONTRIBUTING WRITER | Title: One Weekend to Rule Them All | 4/16/2008 | See Source »

...well be a preview of the approach he takes in the debate, Obama responded to the elitist charge at a town hall for veterans earlier this week by turning the accusation around. "I am amused by this notion of elitist given that - when you are raised by single mom, when you are on food stamps for a while when you're growing up, you went to school on scholarship," Obama said "So when someone makes that argument, particularly when I've spent my entire life working with workers in low-income communities to try to make peoples lives a little...

Author: /time Magazine | Title: Obama's Regular Guy Dilemma | 4/16/2008 | See Source »

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