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...Obama's closing argument is still marked by his trademark reserve. As the crowds around him chant and cheer and pump their fists, Obama remains steadier than ever before. While he's always been calm, he has, over the last 20 months, acquired a self-assuredness, a confidence that he lacked during that long summer in 2007 when Hillary Clinton appeared to be the inevitable nominee and his speeches fell flat. This may feel like a Hollywood finish, but if Obama wins, he will very quickly come down to earth: America will return to the sobering reality of an economic...

Author: /time Magazine | Title: A Long Campaign, And a Changed Barack Obama | 11/2/2008 | See Source »

...Friday, for example, officials at the Asia-Europe Meeting in Beijing looked to the Nov. 15 international summit in Washington to begin reforming the global financial system with a call to pump up the IMF in managing the situation. "Leaders agreed that the IMF should play a critical role in assisting countries seriously affected by the crisis, upon their request," a concluding statement urged...

Author: /time Magazine | Title: IMF Tries to Recover from Strauss-Kahn Affair | 10/26/2008 | See Source »

...short term, that may be a necessary price to pay to pump life into the economy, but the effects of deleveraging on Wall Street and Main Street still threaten the steepest recession in the U.S. since the early 1980s, when unemployment peaked at 10.8% in 1982. Here's why that's so, and how we can still emerge from this crisis a little bit wiser - and, eventually, a lot more solvent - for our trouble...

Author: /time Magazine | Title: Living in a World with Less Credit | 10/23/2008 | See Source »

...many consumers, the only silver lining on the global financial crisis has been the falling oil price it has precipitated. But OPEC is determined to put an end to the relief at the gas pump. Concerned to protect their countries' financial health, oil ministers from the 13 members of the cartel of oil-producing countries meet in Vienna on Friday with only one item on their agenda - cutting their oil output in order to drive up world prices. Oil prices have been slashed by more than half in just three months, from $147 a barrel in July...

Author: /time Magazine | Title: OPEC Wants You to Pay More for Gas | 10/22/2008 | See Source »

...Nathan Thornburgh's "Pipeline to Nowhere?" enlightened me on several levels [Oct. 13]. First, although paying her constituency understandably enhances Sarah Palin's popularity, it chafes me a bit. Doesn't Alaska belong to all of us? Why should part of the price I pay at the gas pump go into an Alaskan's pockets just because she lives there? Second, the story demonstrates Palin's worthiness to be McCain's running mate, since they both overstate their accomplishments. Vince Sigman, MALTA, OHIO...

Author: /time Magazine | Title: Depression Hurts | 10/21/2008 | See Source »

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