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...survey, the number of Brits who view the U.S. favorably has dropped from 83% in 2000 to 53% today; in France, it has fallen from 62% to 42%; in Germany, from 78% to just 31%. Once esteemed as a beacon of liberty and a defender of Europe against the Soviet Union, the U.S. now faces constant criticism for everything from its lack of action on global warming to its faith in unfettered capitalism, which has lately led to the spread of economic contagion from American banks to the rest of the world. But most damaging to America's global reputation...

Author: /time Magazine | Title: American Studies: Stars and Gripes | 10/15/2008 | See Source »

Zalaegerszeg, Hungary Since the western Hungarian city of Zalaegerszeg was founded in the 11th century, it has been besieged by Ottoman hordes, devastated by plague and occupied by both the Nazi and Soviet armies. Today, this city of 62,000 faces another catastrophe, all thanks to the woes of its meat factory. Employing 650 people directly and providing a livelihood to hundreds more - from local farmers to shopkeepers - the Zalabaromfi meat-processing plant has long been one of Zalaegerszeg's most important businesses. But the credit crisis has complicated a long-running dispute between Zalabaromfi and Hungary's second largest...

Author: /time Magazine | Title: Postcards from Europe's Financial Bust | 10/15/2008 | See Source »

...airtime. Dick, you got any plans for reuniting the gang?” “Well, I was creeping around the old CIA storehouse like always, looking for wiretap microphones. (My office ran out, and I suspect the pool guy at the Wyoming house has been inviting Soviet apparatchiks over to parties when I’m away.) At any rate, I found a few leftover exploding cigars—might be time to have a little reunion at the Capital Grille…Show ‘em what treason means.” [Laughs with quiet menace...

Author: By James M. Larkin | Title: From Republican Headquarters | 10/15/2008 | See Source »

...hardware came from the huge stockpiles of Soviet weapons left behind when the Soviet Union collapsed, and Dos Santos wanted it in order to crush the U.S.-backed Unita rebels during Angola's devastating civil war. (Dos Santos, who is believed to have made millions off the trades, won the war and is still in power.) The French businessman Pierre Falcone allegedly plied Angolan officials with tens of millions of dollars - some of it stuffed in suitcases - and deposited other sums of money in offshore accounts. Actor Nicolas Cage's character in the 2005 movie Lord of War was partly...

Author: /time Magazine | Title: The Arms Trade Booms Amid Global Economic Woes | 10/14/2008 | See Source »

Researchers say arms trading has boomed in the decade since the Angolagate scandal was uncovered. That's partly due to heightened supply. As ex-Soviet republics emerged as economic actors in their own right, several countries developed national arms industries, refitting weapons from their stocks and manufacturing new weapons of their own. Those industries have taken off in recent years. Ukraine has about 6 million light weapons from Soviet stockpiles, and has modernized tanks, anti-aircraft missiles and other weaponry, says Hugh Griffiths, an expert on illicit weapons at the Stockholm International Peace Research Institute. A dramatic example of Ukraine...

Author: /time Magazine | Title: The Arms Trade Booms Amid Global Economic Woes | 10/14/2008 | See Source »

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