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What's going on here? A war is supposed to throw a life preserver to a floundering economy, not sink it. Well, as Americans are starting to realize, this is not your typical war. This time there won't be any massive arms buildup and full-scale mobilization of resources. We won't be launching Liberty ships or new fleets of bombers to fight terrorists armed with box cutters...

Author: /time Magazine | Title: Wartime Recession? | 10/1/2001 | See Source »

...further decline would be tortured and not amount to much. Why? The average 30-year fixed rate stands at about 6.89%, vs. a low of 6.68% in 1998--a level that didn't last long and was the lowest average mortgage rate since the 1960s. If rates sink much lower, virtually everyone with a mortgage will be an instant candidate for refinancing. The volume of new business would overwhelm bankers, who'd no longer have a reason to drop rates aggressively. Already there's evidence that bankers are getting their fill. Since June, the decline in mortgage rates...

Author: /time Magazine | Title: Surviving The New New Economy | 10/1/2001 | See Source »

...realized that the U.S. action against bin Laden was likely to be "massive and indiscriminate" and saw little reason that their own nation should want to be collateral damage. Musharraf, said Rifaat Hussain, a defense expert at an Islamabad university, "can either swim with the international current or sink with the Taliban." The decision to back the U.S., sources say, was made easier by a growing Pakistani frustration with the Taliban. Islamabad supported the regime hoping that it would bring peace and stability to the region, but the war with the Northern Alliance continues, as does a destabilizing flow...

Author: /time Magazine | Title: 'We're At War' | 9/24/2001 | See Source »

...soul singer Ambersunshower, whose keening “You Don’t Want To” takes the riff at the heart of the Eurythmics “Sweet Dreams,” and twists it into something even more sinister, yet never disappears down into his gloom sink of previous albums. Perhaps one of the biggest changes is the arrival of Hawkman, a big voiced raggaman who takes up many of the vocals that might have otherwise fallen to Tricky, and delivers himself brilliantly, particularly on the sneakily beautiful “Diss Never (Dig Up We History...

Author: By Andrew R. Iliff, CRIMSON STAFF WRITER | Title: Divergent Evolution: 'Blowback' and 'Vespertine' | 9/14/2001 | See Source »

...million budget, which makes this Korea's priciest film production of all time. Forget the art-house crowd. This time Jang is worried about pleasing his investors and drumming up big ticket sales at home and overseas (which means no bizarre sex). "We need the money and we could sink without the foreign audience," says Jang, adding with a grin, "I'm shooting...

Author: /time Magazine | Title: Korea's Big Moment | 9/10/2001 | See Source »

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