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...downdraft on June 15 in stock prices was more than a result of lackluster buying. Traders were lightening portfolios as signs of continued economic weakness trumped talk of green shoots and recovery. As David Rosenberg of money manager Gluskin Sheff noted in a Monday-morning report, year-over-year economic numbers are simply awful: raw-steel production (-47.3%); lumber production (-32.6%); railway traffic (-20.1%); electrical output (-12.9%). Such negative numbers, in Rosenberg's view, "hardly paint the picture of an imminent recovery...

Author: /time Magazine | Title: A Stock-Market Pullback: Is the Recovery Stalling? | 6/16/2009 | See Source »

...that another is on the way? New York City-area homeowners are in just that spot. After the region suffered the brunt of financial-industry cutbacks, the next big wave of woe could be a nor'easter of collapsing home prices. That's the forecast of an extensive new report on residential real estate by Deutsche Bank, which calls for home prices in metropolitan New York City (which includes Westchester, northern New Jersey and other nearby areas) to fall 40.6% from the prices that prevailed in March...

Author: /time Magazine | Title: New York Home Prices Forecast to Drop 40% | 6/16/2009 | See Source »

...Europe will announce tough new sanctions. The urgency comes from the possibility that with its centrifuges spinning day and night, Iran could have enough low-enriched uranium to make the highly enriched fuel for a nuclear weapon, according to an American analysis of a Feb. 19 report by the International Atomic Energy Agency. Senior U.S. and European officials say that Israel, which views an Iranian nuclear weapon as an existential threat, has bluntly told the U.S., Germany and others, "If need be, we will have to act." That implies if all else fails, Israel would unilaterally attack Iran's nuclear...

Author: /time Magazine | Title: Can the U.S. Contain Iran's Nuclear Ambitions? | 6/15/2009 | See Source »

...Increasing public scrutiny of the tobacco industry finally came to a head in 1964 when the U.S. Surgeon General, Luther Terry, released his Advisory Committee Report on Smoking and Health. The staggeringly comprehensive report was based on more than 7,000 scientific studies linking smoking with lung cancer, emphysema and other diseases. The report led a surge in restrictive legislation, including mandatory warning labels on packages and a ban on advertising on radio or television. Tobacco companies in return simply changed strategy, advertising to younger markets with candy cigarettes and mascots like Joe Camel - whom a 1991 study found...

Author: /time Magazine | Title: Cigarette Advertising | 6/15/2009 | See Source »

...homelands that offer few opportunities and to families that depended on their labor abroad. Observers in Tajikistan tell of depressed village after village where groups of unemployed men amble around. The situation "is a potential time bomb," says the International Crisis Group, a Brussels-based think-tank, in a report earlier this year that labeled the country "on the road to failure...

Author: /time Magazine | Title: Could Central Asia Be the Next Flashpoint? | 6/15/2009 | See Source »

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