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...when the first of Bolaño's major novels, The Savage Detectives, a massive, bizarre epic about a band of avant-garde Mexican poets, was published in the U.S. last year, it instantly became a cult hit among readers and practically a fetish object to critics. Bolaño's second (and last) major novel is titled 2666, and if anything, it is even more massive and more bizarre. It is also a masterpiece, the electrifying literary event of the year. With its publication by Farrar, Straus and Giroux this week - adding to an oeuvre that includes several collections...

Author: /time Magazine | Title: Bolaño's 2666: The Best Book of 2008 | 11/10/2008 | See Source »

...While the absurdities and excesses of Obama supporters’ joyous effusion may prove an amusing object of contempt for the many not similarly thrilled by last Tuesday’s outcome, the new President’s pseudo-religious following among the youth may prove a dangerous precedent...

Author: By Christopher B. Lacaria | Title: Another Great Awakening | 11/10/2008 | See Source »

Highlight Reel:1. On the exceptionalism of the Louvre: "The elitist strain that is built into the Louvre has an explicitly nationalist component. No object that has become part of the French museum system can ever be sold, since it has officially become French patrimony. To someone who comes from Greece, this must seem like a strange concept: the Parthenon frieze in the possession of the Louvre has become, ipso facto, French. The building of a national collection was central to creating the narrative of French greatness, of the power and glory of its empire. Like so much in French...

Author: /time Magazine | Title: Who Owns Ancient Treasures? | 11/6/2008 | See Source »

...years, and the Fed has responded accordingly: lending directly to banks, backstopping the commercial-paper market (which companies use to raise short-term money), trying to bring yields on both long- and short-term maturities down. Further, Fed chairman Ben Bernanke went out of his way recently not to object to the possibility of further fiscal stimulus from Congress. In other words, the Fed is throwing everything but the kitchen sink at avoiding a deflationary spiral, and it's doing so more quickly than its counterparts in Tokyo did a decade ago. Disinflation - diminishing inflationary pressure across the board...

Author: /time Magazine | Title: The Rising Threat of Deflation | 11/6/2008 | See Source »

...stands, moderates and conservatives alike predict that Ohio Republican John Boehner is likely to stay in charge on the strength of his handling of the bailout rebellion in September and the drilling fight over the summer. Majority leader Roy Blunt, long the object of complaint among party foot soldiers, announced Thursday that he would step down, a day after the party's No. 3, Adam Putnam, did the same...

Author: /time Magazine | Title: Congress Gets Ready for the Obama Era | 11/6/2008 | See Source »

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