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...time of the American Revolution, Manchester, in northwestern England, was a market town of about 30,000 people in the shadow of the Pennines, in whose pretty valleys workers spun and wove textiles in their homes. When Friedrich Engels arrived from Germany to work at the mill of his family's company in 1842, the local textile industry had shifted from cottages to giant mills, and its products were sourced and exported around the world. The population of Manchester had exploded tenfold and Pennine hamlets had become towns in their own right. There were other cities, in England and elsewhere...

Author: /time Magazine | Title: Friedrich Engels: Capitalism's Communist | 9/21/2009 | See Source »

...Crunch the numbers. In many parts of the country the rental market is soft too - thanks in part to shadow inventory like houses from Accidental Landlords. If you're paying $1,500 a month on your mortgage but can only rent it for $1,000, is renting the right solution? It could make more sense to sell the house at a loss, especially considering that rent proceeds are taxed as income. "Sit down with a calculator and really do the numbers," says John Yoegel, a real estate instructor and author of Surprise! You're a Landlord: A Guide to Renting...

Author: /time Magazine | Title: Accidental Landlords: Renting What Won't Sell | 9/19/2009 | See Source »

...commanders with a 13-page Code of Conduct (among the rules: no senior government officials are to be executed without his say-so, and civilian casualties must be minimized when attacking foreign troops). In large swathes of the southern provinces of Helmand, Kandahar, Zabol, Oruzgan, Paktia and Paktika, a shadow Islamic republic of the Taliban already exists, with governors, a radio station, law-enforcing militias and courts. In recent months, the Taliban opened a northern front in Kunduz, Baghlan and Badakshan provinces, with a strong contingent of al-Qaeda foreigners among them, according to senior Afghan officials. In all these...

Author: /time Magazine | Title: Behind the Taliban's Resurgence in Afghanistan | 9/16/2009 | See Source »

...overwhelmed with feeling," said Hatoyama at his debut press conference, describing his reaction to being elected Prime Minister, "and at the same time I felt a hefty responsibility on my shoulders." The heft is more than responsibility: it is the weight of an entire nation - and a shadow shogun - looking over his shoulder...

Author: /time Magazine | Title: Japan's New Prime Minister — and New Shadow Shogun | 9/16/2009 | See Source »

Over three decades, Ozawa has wielded his influence behind the scenes, and many fear that, as Secretary-General, surrounded by close allies, he could exercise veto power over policy legislation and undermine Hatoyama's control. Takao Toshikawa, the editor of the political newsletter Insideline, has named Ozawa the "new shadow shogun" (as has the Economist). He says, "Ozawa's power is increasing day by day, and I'm afraid that if Ozawa's influence becomes much greater, how Hatoyama will maintain leadership." Toshikawa calls Ozawa's views radical, particularly those that could threaten bilateral relations with the U.S. (Read Michael...

Author: /time Magazine | Title: Japan's New Prime Minister — and New Shadow Shogun | 9/16/2009 | See Source »

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