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...then Perez was out of office, with plenty of time to ponder a lesson for the future. "A price spike is bad for everybody, producers and consumers alike," he says. "It is worst for developing countries that have oil, because they tend to go on a binge of happy-go-lucky indebtedness." Since returning to the presidency in early 1989, Perez has reined in government spending, reduced subsidies and tried to stimulate growth by easing restrictions on foreign trade and investment. He hopes that with infusions of capital from abroad, Venezuelan firms will be better able to sell their goods...

Author: /time Magazine | Title: America Abroad: The Phony Windfall | 11/12/1990 | See Source »

...more reason for Europeans to ponder the implications of Britain's sudden entry -- at long last -- into the European Monetary System's exchange control mechanism. Prime Minister Margaret Thatcher, who had opposed the EMS from the beginning as an infringement on national sovereignty, was tacitly acknowledging her need to belong -- and her fear of losing influence over decisions in an E.C. in which the center of political gravity is shifting toward the newly united Germany. At the same time, however, Thatcher brought with her a philosophical challenge to the wider project, that of creating a common currency and central bank...

Author: /time Magazine | Title: Cold Feet on the Dance Floor | 10/22/1990 | See Source »

Here are some Head Facts for Joe to ponder...

Author: By Michael R. Grunwald, | Title: Ah, Bruno, Joe Hardly Knew Ye | 10/21/1990 | See Source »

...agree that Bush won because he and his handlers more ably manipulated the symbols of patriotism and the emotions of voters than did their Democratic rivals. Bush pretended to be someone other than himself and won; Dukakis refused to pretend and lost. Which is nobler? All three authors ponder this, but Paul Taylor does it most eloquently: "Faced with a choice between the illusion of Bush and the unvarnished reality of Dukakis, ((the voters)) knew what they wanted. How odd: a process designed to unmask the candidates wound up electing a masked...

Author: /time Magazine | Title: Books: Doing It on the Road | 10/8/1990 | See Source »

...native Dave Stewart, the game's most feral competitor, whose "death stare" would spook Cyclops. Or face Bob Welch, the first American League pitcher since 1968 to win 26 games in a season. Try hitting a grounder through the A's stingy infield. And if you hope to rally, ponder the presence of ace reliever Dennis Eckersley, who has issued only seven bases on balls in two years. You can run but you can't walk...

Author: /time Magazine | Title: Sport: Streaking Hard for the Top | 10/8/1990 | See Source »

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