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...Morgan, a psychologist whose practice centers on senior-level banking executives, recognized that burst of animal spirit as the "euphoria" phase; he knew it signaled darker emotional repercussions to come as the Masters of the Universe undergo the psychological fallout from the global economic downturn. As jarring as the market drops have been, he says, "the psychological shock has been every bit as great" for bankers who have lost their jobs at Lehman and other institutions...

Author: /time Magazine | Title: A Psychologist Looks at the Bankers' Dilemma | 10/21/2008 | See Source »

...industry insiders believe that once the storm blows over, demand is bound to rise for the same reasons it did last time - a large, young workforce; gradual but consistent liberalization reforms; and a high rate of consumer and private-sector savings. "The silver lining is that once this phase ends, land and property prices will be corrected to rational levels, speculators will be out, and the sector will have stronger fundamentals," says Shukla. If everyone's prayers go right, the goddess will eventually be propitiated and her blessings will issue forth once more...

Author: /time Magazine | Title: Mirroring the US, India's Real Estate Sector Melts Down | 10/20/2008 | See Source »

...facing a liquidity problem, a solvency problem and a macroeconomic problem. We are in the first phase of a downward spiral. It is, of course, part of the inevitable process of adjustment: returning housing prices to equilibrium levels and getting rid of the excessive leverage (debt) that had kept our phantom economy going...

Author: /time Magazine | Title: Nobel Laureate: How to Get Out of the Financial Crisis | 10/17/2008 | See Source »

...buyers from India, South Korea and even Central Asia driving up demand. At the Trisara residential complex, for instance, a sea-view, fully furnished two-bedroom villa managed by the boutique hotel of the same name goes for upward of $4 million for a 120-year lease. A first phase of 18 villas perched over a secluded bay has already sold out, with one three-bedroom property having changed hands four times, its sale price more than tripling to $10 million earlier this year. "It's amazing to see these prices," says sales manager Sukanya Chuaywang, "but they keep selling...

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

Riley: [I would add] Reagan's survival of [an] assassination attempt, which had a profound effect on budget policy at that time, because Reagan was foundering a little bit during the early phase of his presidency ... He'd come out of an election--he had won an election that was closer than the score indicated ... but his grace literally under fire in that event, joking to the doctors as he was going under, and his recovery, I think, is a very good illustration of how, in an extreme set of circumstances, one's temperament can have an influence on politics...

Author: /time Magazine | Title: What Kind of Temperament Is Best? | 10/16/2008 | See Source »

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