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...infrastructure projects are to get further than a contractor's sketch pad and the economy is to be permanently transformed, not just temporarily revived, a long period of low interest rates is essential. For that reason, the overwhelming majority of economists argue that the Federal Reserve must keep the discount rate near its current 27-year low of 3.5%. Still, the central bank can do only so much. Since the bond market remains quite wary of a ballooning federal deficit -- and would undoubtedly drive up interest rates in anticipation of dramatically rising deficits -- Congress will have to keep a constant...

Author: /time Magazine | Title: A Quick Fix Is Not Enough | 1/13/1992 | See Source »

...arms-control and troop-limitation treaties signed by the Soviet Union and advance human rights and market economies. Governments around the world quickly began announcing their recognition of the 12 new states, even as they wondered what kind of future their Commonwealth, established on only the barest sketch of a treaty signed last month in Alma- Ata, capital of Kazakhstan, will be able to build for itself. The Commonwealth members, with Russia and Ukraine in the lead, are already wrangling over how to divide up the massive Soviet armies, navies and air forces and the central government property. There...

Author: /time Magazine | Title: Revolutions Farewell | 1/6/1992 | See Source »

...some questions for Yeltsin when he came to see me on Monday. "It's not clear to me what kind of commonwealth you're setting up," I said. "Both politically and legally, it's just a concept, a sketch, inviting all sorts of doubts and questions...

Author: /time Magazine | Title: I Want to Stay the Course | 12/23/1991 | See Source »

...young cartoonists sketch situations and issues that affect people of any race, but they treat them with a distinctively black sensibility. Says Brandon: "A lot of what I deal with is universal, but I do it the way we talk about it." Thus when Brandon's character Lydia is considering a name for her baby daughter, her friend suggests African-sounding names like Imani and Shafiq before Lydia decides to pay homage to the soul-and-gospel singer Aretha Franklin. Bentley's Herb wakes up with the universally shared problem of "morning breath" -- and the specifically black hassle of "morning...

Author: /time Magazine | Title: Blondie, Meet Herb And Marcy | 11/25/1991 | See Source »

...Jerry Parsons, Grossman gives perhaps the most professional performance, developing a character sketch through details, such as the way he holds a pair of eye glasses. Especially while searching for a set of lost keys, Grossman seems completely comfortable and confident on stage...

Author: By Amanda Schaffer, | Title: An Enchanted Evening | 11/8/1991 | See Source »

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