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Does the economy get worse from here or do the government programs recently signed into law increase confidence and start to put capital to work to create jobs and build businesses? In a downturn the bottom is only noticed after the fact. Data on employment, consumer spending, and capital expenditures often follow what has actually happened by months...

Author: /time Magazine | Title: Why March Will Be the Recession's Tipping Point | 2/20/2009 | See Source »

...housing market's sharp drop should start to benefit from the approval of a program to funnel $275 billion into mortgage modifications. The simple fact that such a large safety net may be set up under housing prices ought to help arrest foreclosures and substantially slow cascading housing prices...

Author: /time Magazine | Title: Why March Will Be the Recession's Tipping Point | 2/20/2009 | See Source »

There's nothing new about Washington asking its European allies to start pulling their military weight. But when American Defense Secretary Robert Gates appealed for additional European troop support for the war in Afghanistan on Thursday, the sense of futility was all too obvious. Even as Gates asked Europe for help, he let on that he doesn't actually expect much. President Barack Obama's White House "is a new administration and there clearly will be expectations that the allies must do more," Gates said Thursday during a trip to Poland, his first abroad since being retained as Defense Secretary...

Author: /time Magazine | Title: France Moves Toward Fuller NATO Role | 2/19/2009 | See Source »

...necessary corrective. Rather than making peremptory judgments, pro and con, about foreign leaders, as Bush did, Obama seems predisposed to see every foreign policy problem in its global context - the decision to press the reset button with Russia, for example, could have a profound influence on the start of talks with Iran, especially if the Russians agree to help dissuade the Iranians from an illegal nuclear program (in return for a U.S. pledge to halt the antimissile defense system that Russia fears). Every decision will be evaluated for its synergy with other decisions: troop levels in Afghanistan will reflect, among...

Author: /time Magazine | Title: The Quiet American: How the World Sees Obama | 2/19/2009 | See Source »

...these issues are likely to be examined by the royal commission, which is expected to start public hearings in May. John Brumby, Victoria's premier, says the inquiry should leave "no stone unturned. Every bit of information is to be on the table." But a tragedy of this scale will not be easily explained. Says Robbins: "I personally am never going to get over losing my parents and people will never get over losing a loved one. But I think knowing that they didn't die in vain and things have changed is what will be important...

Author: /time Magazine | Title: After Fires, Australians Search for Culprits | 2/19/2009 | See Source »

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