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...consumers, there is some benefit to a stronger yen: walk into a local supermarket and one might see imported items that are specially marked down, giving new meaning to a "yen appreciation" sale. But a major concern for the Japanese economy is that currency rates, the dollar-yen in particular, are pummeling Japanese exporters as their products lose competitiveness abroad. Coupled with a general decline in global demand, the weak dollar-yen is dumping ice water on corporate profits at titans like Sony and Honda...

Author: /time Magazine | Title: As Yen Strengthens, Japan Cuts Rates | 12/19/2008 | See Source »

Drinking too much is a deadly game any time of year, but it's particularly so during the holidays, when alcohol-fueled parties abound and even moderate social drinkers may indulge too heavily. That's the reason 40% of all road deaths during the Christmas and New Years season involve at least one alcohol-impaired driver, compared to 28% the rest of the year. Those numbers ought literally to be sobering, but for some drinkers - full-blown alcoholics in particular - they...

Author: /time Magazine | Title: An Injection to Cure Holiday Drinking? | 12/18/2008 | See Source »

...event at a soy-biodiesel plant in Newton, Iowa. The theme of the day was that biofuels produce jobs, and Vilsack was pushing Iowa as "the clean-energy capital of America." But he was clearly aware of the new research suggesting that biofuels in general - and corn ethanol in particular - created more carbon emissions by accelerating deforestation than they saved by replacing fossil fuels. "It's definitely something we need to study," he said. Vilsack suggested that second-generation biofuels like cellulosic ethanol manufactured from switchgrass could solve the problem, particularly if it were grown on unproductive hillsides so that...

Author: /time Magazine | Title: Vilsack: Some Hard Choices on Ethanol | 12/18/2008 | See Source »

...ensued, culminating with the mercurial speaker, Mahmoud al-Mashhadani, threatening to resign. "I can't work in such a situation!" he shouted, according to lawmakers who attended the session. It's not clear if al-Mashhadani, who is known for his outbursts, will follow through. But the Sadrists, in particular, are keen to exploit the massive public sympathy for the Shi'ite reporter to turn up the heat on Prime Minister Nouri al-Maliki over the issue, especially ahead of provincial elections slated for Jan. 31. (See pictures of the shoe attack's aftermath...

Author: /time Magazine | Title: Punishment for the Shoe Thrower Puts al-Maliki in a Spot | 12/18/2008 | See Source »

...days of loss and uncertainty, there is particular comfort in the once-a-year hymns, the green-bean recipe you don't really like but would still miss at Thanksgiving, the recurring commitments that remind us what's certain, what's fleeting. Timber and stone, flesh and blood may change--a grandfather dies, a house burns down--but the traditions survive; they are made of love and longing for what we value, and so we hold them close and take them wherever we go. They are wonderfully portable, as anyone who has ever improvised a Thanksgiving in someone else...

Author: /time Magazine | Title: Listen to the Kids | 12/17/2008 | See Source »

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