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...Which makes our most recent downturn worse? Yes, absolutely. We're out of proportion with our amount of personal debt. A good number of people are in debt to the point where they may not ever be able to pay their...

Author: /time Magazine | Title: How Americans Got into a Credit-Card Mess | 8/8/2009 | See Source »

...getting better. Last month the number of violent deaths in Iraq fell to 275, down from 437 in June. And that's a good sign for the security prospects following the redeployment of U.S. forces out of Iraq's urban areas. In Baghdad, the violence has ebbed to the point that the Iraqi government, whose forces are now responsible for security, this week announced that over the next 40 days, it will tear down the razor-wire-topped blast walls that had for years divided the capital into a collection of fortified, warring Sunni and Shi'ite fiefdoms. (See TIME...

Author: /time Magazine | Title: The Case for Leaving Iraq — Now | 8/8/2009 | See Source »

Just days before the one-year anniversary of last summer's war between Russia and Georgia, tensions between the two countries have escalated to the point where observers are worried they could break out into another full-scale conflict. As both sides accuse the other of attacks and provocations, it seems the fragile peace established after five days of fighting in August 2008 is at risk...

Author: /time Magazine | Title: One Year On, Could Russia and Georgia Fight Another War? | 8/7/2009 | See Source »

...boast about their unity of purpose, the single-minded pursuit of their apocalyptic goals. But when it comes to leadership succession, history shows they are rarely united. The death of a charismatic leader often leads to fragmentation and infighting, followed by a loss of focus and effectiveness. Case in point: al-Qaeda's Iraqi arm never recovered from the killing of Abu Mousab al-Zarqawi...

Author: /time Magazine | Title: Who Will Be Pakistan's Next Terrorism Chief? | 8/7/2009 | See Source »

...probably too late for Germany to do anything about its black market in clunkers. The abuse could have been prevented if lawmakers had also created a control system to track each car from the point of hand over to the scrap heap. And the police could have prosecuted dealers who sell the cars instead of scrapping them if lawmakers had made it a crime. Instead, the hands of the police are tied, and as Germany's cash-for-clunkers program runs its course - it's limited to 2 million cars - public interest in cases of abuse will likely fade...

Author: /time Magazine | Title: Germany's Cash-for-Clunkers Black-Market Scandal | 8/7/2009 | See Source »

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