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...during the current downturn. It is true that some Americans–those making over $250,000 a year–will see their tax rates return to those of the Clinton era, but such an increase in taxation is justifiable, since the additional revenue will be used to repair the disastrous legacies of the Bush Administration...

Author: By The Crimson Staff | Title: Obama for President | 10/31/2008 | See Source »

...bubbles in real estate and stock prices (sound familiar?) burst. Eventually, Japan's central bank drove interest rates to near zero to stimulate the economy. But it was, as the economists say, "pushing on a string." Banks were reluctant to lend because they needed to hoard capital to repair their balance sheets - just as they need to do now in the U.S. Economic growth slowed, and demand for the credit that was available diminished. The result was Japan's infamous Lost Decade: 10 years of low or no growth...

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

...March, in an interview with the International Herald Tribune, Bernard Kouchner, France's Foreign Minister - and a true lover of America - took a different view. When the rest of world now looks at the U.S., Kouchner said, "the magic is over." Asked if the U.S. could repair the damage done to its reputation over the last few years, Kouchner replied sadly, "It will never be as it was before...

Author: /time Magazine | Title: America: The Lost Leader | 10/23/2008 | See Source »

...average of $23 an hour, or about $46,000 annually for a typical 40-hour workweek. But those numbers lump different occupations together and don't give a complete picture of the current market. A pipelayer, for example, mostly installs pipes, while pipefitters and steamfitters install, maintain and repair pipe systems...

Author: /time Magazine | Title: How Much Do Plumbers Really Make? | 10/17/2008 | See Source »

...What exactly did this spirit city possess, I inquired? The shaman replied: on the lower part of our terraced land, near a rustling stand of bamboo, the spirits had built their own pharmacy, auto-body-repair shop and even a food stall that served fried rice. No infinity-edge swimming pool would be going there, lest we flood the otherworldly denizens picking up a prescription or delivering a motorcycle for a tune-up. We also would need to leave a section of riverbank undeveloped because a local demigod traversed the land on his daily pilgrimage to a volcano up north...

Author: /time Magazine | Title: A Tale of Two Islands | 10/16/2008 | See Source »

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