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Such confidence reflects the absence from the economic picture of many of the warning signs that traditionally signal the end of a recovery. Interest rates, for example, have been falling rather than rising, which would have threatened to choke off the recovery. Renewed rapid inflation at the consumer level, another yellow light, is also not visible...

Author: /time Magazine | Title: A Series of Bad Signals | 4/12/2005 | See Source »

...frowns and shrugs. In rapid succession he looks perplexed, annoyed, engaged...

Author: /time Magazine | Title: What the President Saw: A Nation Coming Into Its Own | 4/12/2005 | See Source »

...part of the press and law enforcement authorities. There are areas where the press itself is not only willing but anxious to cooperate." Meese suggested the possibility of negotiated agreements with the Government "to delay the release of information which would be inimical to the peaceful or rapid solution of a particular operation, or perhaps temporarily to withhold information or even some interviews" that might endanger hostages. News organizations have sometimes voluntarily withheld such information, but CBS and NBC news chiefs were probably expressing the majority view in the media when they turned down Meese's proposed formal agreement...

Author: /time Magazine | Title: Law: On the Town in London | 4/12/2005 | See Source »

...great that generalizations are difficult. Over the past generation, the thinking of many whites has changed, and along with it their society. Today there is a small but noticeable measure of racial integration in sports, churches, shops and offices, as well as bars, restaurants, hotels and theaters. Rapid industrialization during the past two decades has brought blacks four or five times the pay they received a few years ago, though they still average only about 19% of what whites earn. That is not true, however, of black employees of dozens of major companies like IBM, who receive the same...

Author: /time Magazine | Title: Black Rage, White Fist | 4/12/2005 | See Source »

Friedman's upbeat thesis occasionally collides with reality: even in India, the high-tech sector accounts for just 0.2% of employment. He concedes that the rapid spread of technology and information may also boost Islamic extremism, by heightening Muslims' frustration at the underdevelopment of their societies. But Friedman is a born optimist. When he asks the young Indians doing jobs outsourced from the U.S. whether they are worried about terrorism or war with Pakistan, they tell him they're too busy working. To Friedman, that's a sign that a flatter planet will be a better one. "To the extent...

Author: /time Magazine | Title: Books: The Flat Earth Policy | 4/10/2005 | See Source »

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