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...back in 1998," says Eric Berglof, chief economist at the European Bank for Reconstruction and Development in London, who reckons the financial-market problems will result in a "smallish blip" in the economy rather than any bigger meltdown. Certainly, the situation today is very different from a decade ago, he and others point out: Russia currently has a whopping $550 billion in foreign-currency reserves, a hefty budget surplus, a negligible national debt and an economy that remains on course to grow by 7% this year. The fount of much of the nation's newfound wealth...

Author: /time Magazine | Title: Red Tide at the Casino | 9/25/2008 | See Source »

...time or another, most fishermen have a Jaws moment. For one gnarled veteran trawling Tuggerah Lake, actually a smallish freshwater lagoon situated about 90 km north of Sydney, that moment came just over an hour before sunrise on July 9. Police have declined to release the name of the fisherman, whom they describe as elderly and harboring a mistrust of the media. His version of what happened comes through police and, though emanating from a commuter suburb of Sydney, Australia, has made it around the world...

Author: /time Magazine | Title: Attack of the Freshwater Shark? | 7/10/2008 | See Source »

...acre site is a tangle of more than 100 contractors and subcontractors answering to 19 public agencies--a sorry pageant of feuding bureaucrats, shady contractors, litigious developers and overzealous regulators. Even 9/11 advocacy groups share the blame, halting work over smallish details about how best to honor the victims. Few are honored by this impasse of competing agendas...

Author: /time Magazine | Title: Nation Building. | 7/3/2008 | See Source »

Movies made in these settings are, relatively speaking, cheap to make (western Canada is a perfect stand-in for the western U.S.) require smallish casts and in the dreariness of their first shots signal seriousness of intent. I don't care if we're talking No Country for Old Men or the more recent, low-budget hopelessness of Snow Angels - the seasoned moviegoer settles in for a long trek in a pickup truck, stopping only for depressed meals in dubious diners, trailer park sleepovers and a touch of concluding violence...

Author: /time Magazine | Title: Sleepwalking: A Jaunt Down Mangled Main Street | 3/14/2008 | See Source »

...distributed far more equally. Unemployment is just 3.1%. The country exports more goods and services than it imports. And while only two Danish corporations (shipper A.P. Moller-Maersk and the Danske Bank) are big enough to make the FORTUNE Global 500 list, Denmark has more than its share of smallish, nimble, outward-looking firms well positioned in growth areas ranging from alternative energy to health care to high-end furniture...

Author: /time Magazine | Title: Why Denmark Loves Globalization | 11/15/2007 | See Source »

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