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Though it came on the heels of the Great Depression and the beginning of the end of World War II, the Bretton Woods system addressed global ills that began as early as the first World War, when governments (including the U.S.) began controlling imports and exports to offset wartime blockades. This, in turn, led to the manipulation of currencies to shape foreign trade. Currency warfare and restrictive market practices helped spark the devaluation, deflation and depression that defined the economy of the 1930s...

Author: /time Magazine | Title: Bretton Woods System | 10/21/2008 | See Source »

...sizzle. On the Indonesian island, vacation homes mostly take the form of individually constructed villas or those built by smaller developers. The houses, usually designed in a Bali modern style that is now an architectural touchstone for tropical hotels worldwide, are often rented out most of the year to offset building and maintenance costs. Although the Bali model allows for personal creativity, it also means that owners must hire full-time staff to tend to their paying guests, who fork out an average of $200 a night for a two-bedroom villa. In Phuket, however, the vacation market is dominated...

Author: /time Magazine | Title: A Tale of Two Islands | 10/16/2008 | See Source »

This grim outlook presents some particularly tricky challenges to those in charge. In previous downturns, such as the early 1990s slump, governments typically ramped up state spending in order to offset the drop in business activity. But this time, the gigantic cost of bank bailouts will leave national treasuries with little room for maneuver. Indeed, the bailout plans - under which stricken banks will receive direct injections of taxpayer money to strengthen their capital base, while governments provide guarantees aimed at getting banks to lend to one another again - may well throw government finances seriously out of kilter...

Author: /time Magazine | Title: The Economy's Perilous Waters | 10/15/2008 | See Source »

...been roiling debt markets finally slopped over to equities in full force. The euphoria of the last hour of trading on Friday - when major markets turned positive and then ended the day only slightly down, with the Dow dropping a relatively modest 128 points, to 8,451.19 - hardly offset the terror of a rambunctious 700-point drop in the Dow at the opening bell. Events were so overwhelming that when the cost of a barrel of oil hit a 13-month low, the news barely registered. At 2 p.m., the VIX - a measure of expected stock-market volatility often taken...

Author: /time Magazine | Title: Wall Street Finale: Battling to Get to the Plus Side | 10/10/2008 | See Source »

...this effect, Exelon created a document that commits itself to “reduce, displace, offset, or otherwise neutralize [its] entire carbon footprint by 2020.” It is also meant to be a set of recommendations for future public policy legislation...

Author: By Natasha S. Whitney, CRIMSON STAFF WRITER | Title: Exelon Head Speaks on Energy | 10/6/2008 | See Source »

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