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...financial matriarch has carefully tracked recessions, studied boom-and-bust trends and spent her life - all 93 years - mastering the intricacies of the monetary system and banking world. She's worked as an economist with the National Bureau of Economic Research since 1941 and now serves as an adjunct professor at the Graduate Center of the City University of New York. She recently spoke with TIME contributing editor Janet Morrissey. (See pictures of the stock-market crash...

Author: /time Magazine | Title: Advice from an Economist Who Saw 1929 | 7/9/2009 | See Source »

...that he has no concept of the cost that he will be imposing on the economy if his program is actually enacted. He's spending money with the stimulus program - all kinds of programs - and he's always able to give excuses on why the money should be spent. Yet despite all of his rhetoric, Obama isn't really taking care of the budget ... I don't think the government's job is to provide health care - the private sector is the proper provider. He has no concept of what he is demanding of the private sector...

Author: /time Magazine | Title: Advice from an Economist Who Saw 1929 | 7/9/2009 | See Source »

...that the "downturn forced Labour to dump its tarnished rule" and splurge on public spending is generous, to say the least [June 22]. Gordon Brown spent his years as Chancellor spending beyond his means - even as the country seemed to prosper - and desperately breaking Labour's manifesto promise not to raise tax rates to cover his tracks. The severity of Britain's current recession can surely be partly blamed on years of recklessness and a failure to prepare for the slightest possibility of less sunny days to come. The "golden rule" was a cipher from the beginning of the Labour...

Author: /time Magazine | Title: Labour in Trouble | 7/9/2009 | See Source »

...past 50 years, people with mental problems have spent untold millions of hours in therapists' offices, and millions more reading self-help books, trying to turn negative thoughts like "I never do anything right" into positive ones like "I can succeed." For many people - including well-educated, highly trained therapists, for whom "cognitive restructuring" is a central goal - the very definition of psychotherapy is the process of changing self-defeating attitudes into constructive ones...

Author: /time Magazine | Title: Yes, I Suck: Self-Help Through Negative Thinking | 7/8/2009 | See Source »

...stop dropping compounds." Can you tell me more about this? What we have done is written a tactical directive. And it provides my intent on how we are going to execute operations in general [to be released soon]. But specifically, the use of deadly force. The reason I spent a lot of time personally writing that intent is because I wanted to make sure that before they went into the specific dos and don'ts, that they understood the framework and the concept behind it. And the concept behind it is that although you are still authorized to use close...

Author: /time Magazine | Title: TIME's Interview with General Stanley McChrystal | 7/8/2009 | See Source »

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