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...those are only short-term fixes. For export-oriented Asian economies, the specter of a protracted U.S. recession remains daunting. Tommy Lam, owner of a garment factory in Dongguan, a Chinese city near Hong Kong, says that he has already seen a reduction in demand. "We're not getting the repeat orders we're supposed to get," Lam says...

Author: /time Magazine | Title: Asian Stocks Rebound After Last Week's Record Rout | 10/13/2008 | See Source »

...Quotes by Krugman: "Washington was first thrilling, then disillusioning...Some people get addicted to that thrill, and will do anything to stay near the center. After a little while, however, I began to notice how policy decisions are really made. The fact is that most senior officials have no idea what they are talking about: discussion at high-level meetings is startlingly primitive." ("Incidents from My Career...

Author: /time Magazine | Title: Paul Krugman | 10/13/2008 | See Source »

...talked to us about it," said the official who asked not to be identified. "I don't see what we get out of it. We're both way too dependent on trucks and sport utility vehicles," noted the union official who represents Chrysler workers at a plant near Detroit. There are fears that a merger would simply be a way to reduce the workforce. Chrysler has eliminated 22,000 jobs since Feb. 2007, reducing its ranks by approximately 66,000 employees. The company also plans to eliminate another 4,000 jobs next year, making it half the size...

Author: /time Magazine | Title: How Likely is a GM-Chrysler Merger? | 10/13/2008 | See Source »

Both campaigns have evoked the ghost of Harry S. Truman, a salt-of-the-earth fellow whose honesty and common sense allowed him to govern in Washington without being corrupted. So I began my trip near the leafy street corner in Independence, Mo., where Truman had his home. I strolled the downtown sidewalks along which the former President took his morning constitutional after he returned home from building the postwar world. In a shop near the courthouse, I asked the woman behind the counter what she was thinking about the election. She replied that she was a lifelong Republican...

Author: /time Magazine | Title: For White Working Class, Obama Rises on Empty Wallets | 10/12/2008 | See Source »

...like him, but he has so little experience," Cheryl Collier told me when I visited her bookstore near the train station in Lee's Summit. "He's an amazingly gifted orator, and you think, If only he could show where he has accomplished the things he talks about...

Author: /time Magazine | Title: For White Working Class, Obama Rises on Empty Wallets | 10/12/2008 | See Source »

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