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...figure out which side had a better claim to truth, Pooley argues that reporters fell into what he calls the stenography model of journalism, simply reporting both sides with equal weight. The problem is, the two sides weren't equal. The skeptics' models tended to assume, quietly, that the pace of technological advance for renewable energy would be sluggish - significantly raising the costs of trying to cap carbon emissions. The models from the green side - led by the Environmental Defense Fund - tended to be fairer, projecting a range of possible economic impacts from cap-and-trade. Increasingly, mainstream economists...

Author: /time Magazine | Title: Is the Press Misreporting the Environment Story? | 3/1/2009 | See Source »

...sources of economic weakness in the fourth quarter were across the board. Consumer spending dropped at a 4.3% pace, its worst performance since 1980. Nonresidential private fixed investment - a.k.a. capital spending - fell at a 21.1% rate, the worst since 1975. Exports fell at a 23.6% annual pace, the worst since 1971. And residential investment was down at a 22.2% pace, but that's the worst only since the first quarter...

Author: /time Magazine | Title: A 6.2% Drop in GDP: Is the Worst Yet to Come? | 2/27/2009 | See Source »

...major indicator headed upward was government spending, but only at a 1.6% annual pace. That should rise significantly starting in the second quarter of this year as spending from the recently enacted stimulus package begins to be felt. The effectiveness - or lack thereof - of the stimulus measures will probably determine where this recession goes down in the history books...

Author: /time Magazine | Title: A 6.2% Drop in GDP: Is the Worst Yet to Come? | 2/27/2009 | See Source »

...Heart” opens the album with a hackneyed blues guitar riff and the whiney, gruff singing of frontman Cole Alexander. “Big Black Baby Jesus Of Today” continues these blunt statements of rebellion while adding in some maracas to compensate for the slower pace. Full of standard guitar riffs, simple rock beats, and sapless whining, these songs lacks any real substance and raise the question of whether or not the Black Lips are really as label bending as they claim to be. “Short Fuse” emerges mid-album like a mirage...

Author: By Matt E. Sachs, CONTRIBUTING WRITER | Title: The Black Lips | 2/27/2009 | See Source »

Vice President Biden attempted to define middle-class Americans as people who would find it difficult to miss more than two paychecks, and he wasn't far off; with wage increases failing to keep pace with inflation, about 21% of middle-class Americans have spent themselves to the limit. Personal bankruptcies rose by a third last year and mortgage defaults - well, they're moving beyond subprime borrowers and hitting those with previously high credit scores. On Feb. 27, Biden and eight members of his task force, including Education Secretary Arne Duncan and Energy Secretary Steven Chu, will meet...

Author: /time Magazine | Title: The Middle Class | 2/27/2009 | See Source »

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