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...Thursday brought dreaded confirmation that markets look set to remain in tank mode until they find reason for taking heart anew. In addition to the 11.4% slump of Nikkei - its biggest single-day drop since the October, 1987 crash - trading Thursday elsewhere in Asia pushed Hong Kong's Hang Seng down 4.8%, South Korea's down 9.44%, and Singapore Straights Times Index down 5.5%. Europe faired no better, with London's FTSE 100 and Paris' CAC 40 indices reflecting mid-morning declines of nearing 2.5%, and Frankfurt's Dax off 1.3%. Market commentators warned that trading could see-saw throughout...

Author: /time Magazine | Title: Recession Fears Drive World Markets Starkly Downward | 10/16/2008 | See Source »

...traders will likely remain tough to wow. According to a draft that Reuters obtained of a final statement written for Thursday's conclusion of the summit of European Union leaders in Brussels, resolutions have largely been limited to approving the rescue plan and coordinated strategies of eurozone nations, along with vague promises of help when the crisis-aggravated recession sets...

Author: /time Magazine | Title: Recession Fears Drive World Markets Starkly Downward | 10/16/2008 | See Source »

...eager for Russian economic and military support, just as he has been in the past with Iran and Cuba. Yet in the last year, the Venezuelan president has seen his political star begin to fade: After losing a crucial referendum that would have allowed him to remain in power indefinitely last December, Chavez has attempted to distract Venezuelans’ attention from the dire economic situation at home with a lot of show abroad...

Author: By Pierpaolo Barbieri | Title: The Axis of Guns and Oil | 10/15/2008 | See Source »

...clear that these unlikely allies came together out of fear: Whereas the Kremlin fears diplomatic isolation, Chavez fears his end may be fast approaching. What we should all fear is what a populist like Chavez will do with Russian weaponry at a time when he is desperate to remain in control...

Author: By Pierpaolo Barbieri | Title: The Axis of Guns and Oil | 10/15/2008 | See Source »

Perhaps even more important than intelligence is vitality: Tigger beats Eeyore any day. F.D.R.'s success, argues Goodwin, reflected as much his infectious optimism as his eloquence: "To have gone through his own adversity with polio and still remain optimistic and upbeat - all of that was what he projected to the country during the Depression," she says. "They had faith in themselves because he had faith in them." McCain had his fortitude forged by fire in a prison camp; he throbs with an energy of someone who has never stopped making up for lost time. He burns more calories sitting...

Author: /time Magazine | Title: The Temperament Factor: Who's Best Suited to the Job? | 10/15/2008 | See Source »

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