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...with an axle shaft, differential bearing, and wheel bearing could cost as much as $900, all required to rehab that drive train. The internal engine has cylinder heads which cost $600, sealed pistons at $250, a head gasket set for $215, a timing set for $265, and a $60 oil pan. A new set of reasonably priced tires will cost...

Author: /time Magazine | Title: Why Buy a New Car When You Can Build One? | 3/12/2009 | See Source »

Japan's gross domestic product dropped 13% in the fourth quarter. The Russians are so short of cash, they are signing a lopsided 20-year deal for oil sales to China in exchange for a $25 billion loan. Iceland is bankrupt. The World Bank predicted on March 8 that in 2009 the global economy will shrink for the first time since the 1940s...

Author: /time Magazine | Title: The Trouble with Obama's New Deal | 3/12/2009 | See Source »

...Federal Reserve, said that the economic recovery might still begin in the latter part of this year. What was not so well reported was that he said it could only happen if the banking system was fixed, a process that may actually take years. The price of oil has been moving up which usually means that the market expects that individual and industrial demand will improve. It also means that it may cost $4 a gallon to drive...

Author: /time Magazine | Title: Should the Market Ever Go Up 7% in a Day? | 3/11/2009 | See Source »

During Russia's fat years, waistlines expanded almost as quickly as oil and gas exports. But now that lean times have returned, Russia's Ministry of Health is encouraging a revival of a diet full of cabbage, sour milk and other traditional foods to fatten Russians' wallets and slim their bellies. The advice, contained in a new Ministry report, is aimed at helping a population hit by rising unemployment, a falling ruble and ever-increasing food prices...

Author: /time Magazine | Title: Russia's Economic Rescue Plan: Go on a Diet | 3/11/2009 | See Source »

...wasn't a crazy idea at the beginning of the year - but it sure is now (The S&P 500 is currently around 700). *The price of gold would go to $1200 per ounce. I still feel terrific about that. *The price of oil will go to $80 per barrel...I feel good about that. *The US dollar would weaken later in 2009...I still believe that. *The 10-year Treasury yield would rise to 4% (on Monday, the yield was 2.9%.) I'm still going with that. *China will grow 7% in 2009. That growth estimate may be high...

Author: /time Magazine | Title: Prognosticator Byron Wein: The Outlook for '09, Take 2 | 3/9/2009 | See Source »

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