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...escalating economic pressure," says a senior Administration official. "We have avoided doing anything dramatic because we don't want to cause permanent damage to the Panamanian economy." Yet as U.S. banks contemplate pulling out of Panama, pessimists fret that Panama's service economy is being ravaged beyond repair; optimists predict that it will take a decade to restore investors' confidence in the country. Grouses a Panamanian official: "The American strategy has all the subtlety of a bull crashing through a glass door...

Author: /time Magazine | Title: There Is No Plan B | 4/25/1988 | See Source »

...struggle has become more desperate than ever in 1988, with the five-year economic expansion losing momentum. Few economists predict an outright recession this year, but the long-running consumer spending spree is expected to taper off considerably. While consumers seem to have taken the stock-market crash in stride, they are becoming worried about the debt load they are carrying. Result: the overabundant department stores, discount outlets and specialty boutiques will be fighting ever more fiercely for consumer dollars. Says Bernard Brennan, chairman of the Montgomery Ward chain: "There's no question about the upheaval in the industry...

Author: /time Magazine | Title: No Holds Barred: Retailers Battling for Profits | 4/11/1988 | See Source »

WITH the distance closed, Updike attempts to define the options women have and to predict their fate. Hester, despite knowing that her lover is weak and hypocritical, stands by him. She has nowhere else to go. For Sarah, her escape routes from a hypocritical marriage are seemingly limitless. But the Ahrat is no more emtionally or spiritually honest than Hester's Dimmesdale. As a modern woman, Sarah can always flee from deceit. The problem is that she can never find the truth, in part, because there is no truth to find...

Author: By Aline Brosh, | Title: From `A' to `S': What's in a Letter? | 4/9/1988 | See Source »

...midsummer, government officials predict, the water level in the reservoir above Aswan, known as Lake Nasser, will drop to 492 ft., from 574 ft. a decade ago, slashing power output by 55% and causing isolated power shortages. If the level dips much below that, Aswan's powerful turbines, which provide 25% of Egypt's electricity, must be shut down, crippling industrial development and hampering efforts to reclaim desert land for cultivation...

Author: /time Magazine | Title: Environment: Drought Stalks the Mighty Nile | 3/28/1988 | See Source »

...their supersecret war on terrorism, U.S. intelligence agents routinely consult a specially developed computer system, programmed with the arcane knowledge of a handful of terrorism experts, to anticipate and avert terrorist actions. The year-old system has reportedly helped predict terrorist attacks in Western Europe...

Author: /time Magazine | Title: Technology: Putting Knowledge to Work | 3/28/1988 | See Source »

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