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...result was a staggering increase in capital inflows. The inevitable flip side was a staggering rise in the current account deficit--basically, the trade deficit plus a few other things. It grew from $114 billion in 1995 to $417 billion in 2000 to a record $788 billion in 2006 before falling to $731 billion, or 5% of GDP, last year. Political discussion of this shortfall usually focuses on trade agreements and exchange rates. But if the U.S. simply stopped borrowing so much--that is, if Washington balanced its budget and restrained financial companies from loading U.S. households with ever more...

Author: /time Magazine | Title: America's No. 1 Export: Debt | 9/25/2008 | See Source »

Much of Nick & Norah was shot on the Lower East Side, a grimy area that Sollett polishes into a wonderland where parking spaces are always available and the street people are genial poets. He has also enlisted stalwarts from Saturday Night Live (Seth Meyers, Andy Samberg) and the Harold & Kumar movies (John Cho). But this film doesn't need the validation of older comics; it's got winning stars in their early 20s who are true both to this moment and to old star quality. In the 1930s, Hollywood had The Thin Man, with the married couple Nick and Nora...

Author: /time Magazine | Title: Nick & Norah's Infinite Playlist: Enchanted Evening | 9/25/2008 | See Source »

...human's touch to a reptile's. It's also worthwhile to splash in the mineral-laden Dead Sea, renowned as a health spa ever since the Queen of Sheba raved about its medicinal properties 4,000 years ago. (Hint: resorts like the Mövenpick on the Jordanian side are more luxurious and, because they are less traveled, far cheaper.) Around the Dead Sea, though, stay away from the snakes: their touch might soothe, but their bite is fatal...

Author: /time Magazine | Title: A Spa That Slithers | 9/25/2008 | See Source »

...academic challenges facing our country and obscures the actions we should be taking. While it is difficult to disagree with his claim that teaching to standardized tests leaves students ill-prepared for accepting the responsibilities of both work and democracy, Wagner fails to adequately take into account the other side of testing. Wagner correctly assumes that the growing emphasis on testing is a result of our economic fears that our best jobs will go overseas, but he fails to seriously consider that testing is also being used as a measure of our national belief in equality, our belief that educators...

Author: By Laura A. Moore, CRIMSON STAFF WRITER | Title: 'Global Gap' is Wider at Home | 9/25/2008 | See Source »

...something we focus on all season,†Rhodes said. “Building and leading up to the Ivy League is our focus.†In last year’s season-ending meeting, the Crimson felt an all-too-familiar thorn in its side: a lack of offensive production. As junior goalkeeper Lauren Mann enters her third year as the cream of the league crop in net, the team’s struggles for goals and wins have gone hand-in-hand. The signs in the offseason and early going in 2008 all point to upward...

Author: By Emily W. Cunningham, CRIMSON STAFF WRITER | Title: Harvard Looks For Revenge Over Penn | 9/25/2008 | See Source »

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