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Free-marketeers like Feldstein would just as soon let that happen and get it over with. Says Herbert Stein: "The dollar should be allowed to decline as far and as fast as it will." But that course runs a gigantic risk: a free- falling dollar could easily touch off a panic flight of foreign capital from the U.S. That is about the last thing anyone wants, since it could trigger a worldwide financial collapse. It would be much better to renegotiate the Louvre accord to allow a gentle, managed decline in the dollar. As part of such an agreement, foreign...

Author: /time Magazine | Title: The Crash: Risks In Every Direction | 11/9/1987 | See Source »

...Elliot Stein, chairman of Stifel Financial Corp., one of the city's largest investment firms, addresses his employees in grim jest: "I would like to open our teleconference by leading you in prayer...

Author: /time Magazine | Title: The Crash: A Shock Felt Round the World | 11/2/1987 | See Source »

...revelations of the last two weeks and his weak responses to them indicate that Biden has no character. As Gertrude Stein said of Oakland, "there's no there there." That's why when he goes on automatic he is forced to make things up or steal them from others. Have there been no formative events in his life of which to speak? Nothing inside which he can fall back on? I bet Biden doesn't even realize that when Kinnock spoke of his ancestors playing football after a long day's work, he was talking about soccer...

Author: By Steven Lichtman, | Title: Biden His Time | 9/23/1987 | See Source »

Judith E. Stein, curator of the Grooms show that started its national tour two years ago at the Pennsylvania Academy of the Fine Arts, sets him up as a real satirist. With a "keen political sense," she claims in her catalog introduction, "Grooms follows in the tradition of William Hogarth and Honore Daumier, who were canny commentators on the human condition." Alas, the history of American art criticism suggests that you need only sketch a bum to get popped into the pot with Daumier, or a street crowd to be compared with Hogarth. The truth in this case...

Author: /time Magazine | Title: Art: Corn-Pone Cubism, Red-Neck Deco | 9/21/1987 | See Source »

...Jews. His 1979 journey to Auschwitz was the first by a Pontiff to a concentration camp. His visit last year to a Rome synagogue made him the first known Pope to enter a Jewish house of worship since St. Peter. But last May he beatified a nun, Edith Stein, a convert from Judaism, as a heroic Christian martyr. Jews had protested that Stein was gassed at Auschwitz not for her faith but for her ancestry. John Paul has also defended the actions of the German bishops under the Nazis, despite accusations that some were less than aggressive in their opposition...

Author: /time Magazine | Title: Religion: Special Delivery from the Pope | 8/31/1987 | See Source »

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