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...pain Nadal applied indiscriminately last year, even against Federer, who may just be the greatest player of all time. The Spaniard's rise to No. 1 ended a five-year period in which Federer's free-flowing and artistic play came as close as humanly possible to achieving perfection within the boxed constraints of a tennis court. Since his first French Open victory in 2005, Nadal's more muscular game has consistently overcome the Swiss star on Nadal's favorite surface - clay. But in 2008, Nadal came out on top in four meetings, including an epic five-set Wimbledon final...

Author: /time Magazine | Title: Tennis: Nadal's New Spin | 1/8/2009 | See Source »

...country, we have seen how we can rise to the occasion in a crisis: we saw it seven years ago when our cities came under attack. We've felt it in wartime, in natural disasters. But the Great Recession is no short-term, onetime event, to which we respond and move on. It is changing how we think and how we live and how we see one another. Barack Obama based his campaign on the promise to bring people together; the question now is, Can we resist the forces that would pull us apart...

Author: /time Magazine | Title: The Recession's Big Test | 1/8/2009 | See Source »

...near the fire. We read about people walking away from mortgages they can afford to pay, just because everyone else is doing it and responsibility seems like a sucker's game. Retailers report that gun sales are up, because the Democrats are back and crime is expected to rise and civilization as we know it to break down. Someone somewhere is stirring the tar and plucking the feathers for Lehman's Richard Fuld and Merrill's Stan O'Neal and of course Bernie Madoff of the $50 billion swindle, because absent any effective sanction, we're all vigilantes...

Author: /time Magazine | Title: The Recession's Big Test | 1/8/2009 | See Source »

With Japan's recession deepening, the country's central bank could intervene in currency markets for the first time since 2004, in a bid to prevent further appreciation of the yen - a rise that is hammering Japan's export-driven businesses...

Author: /time Magazine | Title: Why the Yen Is Killing Japan Inc. | 1/7/2009 | See Source »

...year high against the U.S. dollar last month. While the Japanese currency has weakened somewhat recently, Bank of Japan governor Masaaki Shirakawa said Sunday that currency-market intervention was possible if the yen's rise resumes. "The strong yen at a time of rapid decline in the global economy has a big negative impact on our economy in the short term," Shirakawa said. (See pictures of Japan and the world...

Author: /time Magazine | Title: Why the Yen Is Killing Japan Inc. | 1/7/2009 | See Source »

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