Word: rounding
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...maybe right now we shouldn't be trying quite so hard. With lending locked up the world round, we desperately need some risk-taking. We just don't have to risk everything...
...assistant managing editor Michael Duffy, ably assisted by Washington bureau chief Jay Carney. We also covered the election superbly in real time on TIME.com--spearheaded by TIME.com politics editor Daniel Eisenberg. The indefatigable Mark Halperin drove the daily conversation on The Page, and our political blog, Swampland, was a round-the-clock buffet of ideas, observations and anecdotes. Our national political correspondent Karen Tumulty was everywhere. Michael Scherer covered John McCain; Jay Newton-Small was on Obama, and Nathan Thornburgh excelled on Sarah Palin. And of course, the remarkable Joe Klein may have had his greatest election cycle since...
...Iceland, which has seen its banking system and its currency, the kronur, all but collapse. The silver lining in an Arctic cloud: what was once one of the most expensive, if memorable, destinations in Europe has suddenly gone budget. Icelandair flights from New York City start at $500 round-trip, and decent hotels in the hip capital of Reykjavik - like the Centerhotel Thingholt - are as low as $60 a night. Sure, if you go in the late fall or winter you'll get only about five hours of sunlight a day - but Icelanders know how to make those hours count...
...managed parity with the American dollar in recent years. Not anymore. The Down Under dollar now gets you only about 66 cents. But that opens the Land of Thunder's many delights to the American budget traveler - once, of course, you mortgage your devalued home for a plane ticket. Round-trip tickets from New York City to Sydney are going for about $1,400. On the upside, when it's winter in the North, it's summer over there. (Except financially - then it's winter everywhere...
...Change some of the details above and you could have the Chinese Product Safety Scandal of 2007. That round was touched off when the death of more than 100 Panamanians was traced back to cough medicine tainted with dietheylene glycol from China. Then hundreds of pets in North America were killed by eating food made from Chinese raw ingredients, also tainted with melamine. As last year's scandal spread, problems were found with Chinese-produced toys, tires, seafood and toothpaste. Even as the Beijing took extreme steps to solve the problem, such as executing Zheng Xiaoyu, the former head...