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...risk is mounting of a sharp global slowdown?and possibly a recession?sparked by rising oil prices. U.S. consumer spending is likely to slow markedly if oil prices just stay at about $60 a barrel. This is true for several reasons. First, U.S. households have precious little flexibility in their budgets. They have drawn their personal average savings rate down to zero?far below the 9.5% average during the two oil shocks of the 1970s and the 7% rate during the shock just prior to the Gulf War in 1991. Today, the only backstop for most consumers is the transitory...

Author: /time Magazine | Title: A Price to Pay | 8/29/2005 | See Source »

...writing, but I'm just very, very slow. I would not make it as a journalist, I've got to tell you. I sweat bullets over every sentence, and sometimes, you know, a day will pass and I've written one paragraph, and I've been at the computer for four hours...

Author: /time Magazine | Title: Between the Lines With Susan Elizabeth Phillips | 8/26/2005 | See Source »

Rebuilding was not easy. The Air Force was slow to turn over its property, and the environmental cleanup proved time consuming. But today Denver and Aurora proudly call that land Redevelopment Triangle. The two cities are 80% of the way toward their goal of creating 10,000 jobs there and filling the area with 4,500 homes and apartments, plus 2 million square feet of offices, retail stores and restaurants worth $1.3 billion...

Author: /time Magazine | Title: Don't Fight It. It Might Just Work Out | 8/23/2005 | See Source »

...eyesores: about a hundred World War II--vintage barracks and buildings with asbestos in their ceilings and yellow lead paint flaking from their walls. Most of the acreage has no water or sewer lines to support new buildings. Federal and local money to rebuild, plus add roads, has been slow to arrive; so far, only $4.2 million has been spent. "Down here the land has no value because it has no real infrastructure," explains Sandy Sanders, executive director of the Fort Chaffee Redevelopment Authority. The vacant post, Sanders says, wound up being a "liability because of all the old stuff...

Author: /time Magazine | Title: Don't Fight It. It Might Just Work Out | 8/23/2005 | See Source »

...Juda. "I take stuff that I know appeals to people's bad sides and match it up with stuff that appeals to their good sides." As an example, he cites a snippet of Diamonds from Sierra Leone about his rise to fame: "'Life movin' too fast, I need to slow down/ Girl ain't give me no ass, she need to go down.' All right, that's really crass, right? Really bogus. So what comes next? 'My father been said I need Jesus/ So he took me to church, let the water wash over my Caesar' [haircut]. I go back...

Author: /time Magazine | Title: Why You Can't Ignore Kanye | 8/21/2005 | See Source »

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