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...coax the IMF into paying up, Primakov will try to scare them with images of a cataclysmic economic meltdown. But that may no longer work. "The IMF knows it's unlikely ever to find the kind of money that would be needed to pull Russia out of the hole," says Quinn-Judge. And with Moscow showing no sign of undertaking the structural reforms demanded as a condition for IMF aid, it's not inclined to throw good money after bad. Which may leave Primakov to make up his budget shortfall at the Xerox machine...

Author: /time Magazine | Title: Russian Budget: A Surplus of Fantasy | 1/15/1999 | See Source »

From a global standpoint Europe's resistance to genetically modified crops is a peculiar case: a complex amalgam of bad timing, conspiracy theories and allegiance to traditions, with perhaps a dash of economic protectionism thrown in. Yet the Continental food fight that continues to pitch up scare headlines in Europe may herald what genetic engineering can expect to encounter as it moves more broadly into pharmaceuticals and medical procedures. It's not just a matter of consumers' smelling something very fishy in the idea of tomatoes given an antifreeze-producing gene from the winter flounder. More broadly, society--at least...

Author: /time Magazine | Title: Brave New Farm | 1/11/1999 | See Source »

Perhaps because of Europe's deeper suspicions of Big Business, the food fight has prompted a regulatory go-slow on the Continent. One factor is the scare that erupted in 1996 over "mad cow" disease in British beef. Though the disease was caused by feeding animal parts to cows, rather than by genetic meddling, the panic left consumers extremely wary about what goes onto the family dinner table. Herbert Krach of the Swiss Small Farmers Union notes, "For years scientists assured us that feeding animal-based feeds to cattle was harmless." But the cautions also owe something to romantic...

Author: /time Magazine | Title: Brave New Farm | 1/11/1999 | See Source »

Investors know that an impeachment vote and subsequent Senate trial "would cripple Washington for the foreseeable future," says Baumohl. Pressing issues such as Social Security would have to be put on the back burner, which could scare off investors from pumping money into the market -- and that's not even taking into account the volatile Iraqi situation. Even a sudden resignation by Clinton to end the crisis would not necessarily bring relief. "Gore remains an unknown quantity as a president," says Baumohl, and investors would be likely to adopt a wait-and-see attitude. Even on matters of impeachment...

Author: /time Magazine | Title: Wall Street Would Vote No | 12/16/1998 | See Source »

...people speculated that cellular phone activity had interfered with the electromagnetic fields that pigeons use to help them navigate. That theory led me to another theory: people who take great pleasure in shouting into their cellular phones as they walk down the street had finally shouted loudly enough to scare all birdlife senseless. Nobody knew for certain...

Author: /time Magazine | Title: Wanted: A Follow-Up Fillip | 12/7/1998 | See Source »

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