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...rest of the industrialized world may be in worse shape. To measure excess capacity, economists use a metric called the "output gap," defined as the difference between the potential output of a given economy and what is actually being produced (including services). The Organization for Economic Cooperation and Development (OECD) is projecting that, despite global production cutbacks, the situation is actually getting worse because the recovery will be weak. In 2010 the output gap among 24 OECD member nations is projected to widen to -5.7% - the widest gulf by far in the post-World War II era. (See 25 people...

Author: /time Magazine | Title: A Threat to Global Recovery: Too Many Factories | 10/6/2009 | See Source »

...painting at auction can fetch over $100,000. Nonetheless this is far more than Asians have spent on prints in the past, and that's because the perception of printmaking is finally changing. Somewhere, far above the college dorms and dentists' waiting rooms, another realm of printmaking is taking shape...

Author: /time Magazine | Title: Prints Charming | 10/5/2009 | See Source »

...lose 40 seats next November, according to political expert Charlie Cook, if Democrats fail to pass health-care reform and polls continue their downward spiral. "The kinds of conditions that create wave elections are the kinds of conditions we're seeing right now," he says. "Kratovil is in bad shape - as bad as an incumbent...

Author: /time Magazine | Title: Freshmen Dems: Caught in the Middle on Health Care | 10/5/2009 | See Source »

...Angeles are pushing from the bottom up, demonstrating that there is political will to deal with climate change. Ultimately, of course, it will be the national governments in Washington, London and Beijing, among other places, that will take part in the upcoming U.N. climate summit in Copenhagen and shape how the world takes on global warming. But the vast majority of that response - whether it means shoring up cities for sea level rise or tightening green building codes - will need to be carried out at the state and city level, the governors in L.A. noted. The summit "is part...

Author: /time Magazine | Title: Are the Governors Our Best Hope for the Climate? | 10/2/2009 | See Source »

...last three-and-a-half years, Maliki has surprised his countrymen and his sometimes chagrined U.S. allies with his tenacity and craftiness. Now, with State of Law, he must go toe-to-toe with the Iraqi National Alliance (INA) which, in the shape-shifting politics of Iraq, is the current manifestation of the coalition that Maliki rode to power in 2006. To stay in charge of Iraq, Maliki must defeat his former coalition allies in what are expected to be tough elections on January 16. The victor will have a difficult four years to maintain security as American troops depart...

Author: /time Magazine | Title: In Iraq, Maliki Banks on a New 'Unity' Coalition | 10/1/2009 | See Source »

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