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...market mood on June 15 was further darkened by newly released data from the Federal Reserve Bank of New York. The bank's Empire State Manufacturing Survey showed a sharp decline for May, reflecting further weakness in new orders. That news came on the heels of grim tidings from the head of the International Monetary Fund, which noted on June 15 that the worst phase of the global recession may be yet to come...

Author: /time Magazine | Title: A Stock-Market Pullback: Is the Recovery Stalling? | 6/16/2009 | See Source »

...sleep appears to not only improve our ability to identify positive emotions in others; it may also round out the sharp angles of our own emotional experiences. Walker suggests that one function of REM sleep - dreaming, in particular - is to allow the brain to sift through that day's events, process any negative emotion attached to them, then strip it away from the memories. He likens the process to applying a "nocturnal soothing balm." REM sleep, he says, "tries to ameliorate the sharp emotional chips and dents that life gives you along the way." (See the top 10 medical breakthroughs...

Author: /time Magazine | Title: Wish Fulfillment? No. But Dreams Do Have Meaning | 6/15/2009 | See Source »

...uncle was dragged away to his death. As rockets pummeled the city, the girls huddled in the makeshift basement that served as their classroom. Deeply shaken, all four opted to study in Egypt after the war under a religious sponsorship. They returned at 18 in hijabs - a sharp break from their families' traditions. Their transformation was hardly unique. Aida Begic, 33, a director whose first feature film Snow has won numerous awards, says her teen years in besieged Sarajevo shook her to the core. "Every minute you wonder what will happen after you die," she says. "You cannot postpone those...

Author: /time Magazine | Title: Bosnia's Islamic Revival | 6/15/2009 | See Source »

...West Bank settlers identified by the U.S. President as an obstacle to Middle East peace were expecting Bibi Netanyahu to support their cherished dream of an Israel stretching from the Jordan to the Mediterranean Sea, they were disappointed on Sunday night. The right-wing leader instead took a sharp and unexpected lurch to the center and said he would support a two-state solution, meaning something called Palestine is a step closer to being inked onto their 3,000-year-old biblical...

Author: /time Magazine | Title: Netanyahu, in Turnabout, Backs Palestinian State | 6/15/2009 | See Source »

...this for New York in the mid-'70s: from its desperate blight emerged some pretty sharp movies. Back then, children, Hollywood was actually interested in reflecting contemporary society, and this poster child for urban dystopia provided the perfect setting. A raft of films - Serpico, Death Wish, Dog Day Afternoon, Taxi Driver - navigated that stinky Styx with the expertise of a champion white-water rafter. A lesser but still pertinent entry was The Taking of Pelham One Two Three, which starred Robert Shaw as the criminal mastermind and Walter Matthau as the transit detective trying to talk...

Author: /time Magazine | Title: Pelham 1 2 3: Riding into the Past | 6/12/2009 | See Source »

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