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...Robert Hormats, vice chairman of Goldman Sachs International, is "the first synchronized downturn since the 1980s," when high interest rates squeezed the world economy like an orange. During the last U.S. recession, 10 years ago, Europe was in its post-cold war euphoria, while the Asian economies were the stuff of miracle. By the time a financial crisis declawed the Asian tigers in 1997-98, the U.S. economy was in the middle of its technology boom...

Author: /time Magazine | Title: Are You Worried Yet? | 9/3/2001 | See Source »

...charm; his voice could hypnotize, his gaze entrance. "When I talk to him, I feel like a plant that?s been watered" (Marlene Dietrich). "It?s like meeting God without dying" (Dorothy Parker). He landed in the American consciousness like Gulliver among the Lilliputians, his prodigious youth the stuff of theatrical legend: playing at Dublin?s Gate and Abbey Theatres at 16, starring on Broadway at 19, forming his own theater at 21. And then he outstripped that early promise with an achievement glorious and voluptuous...

Author: /time Magazine | Title: That Old Feeling: Mercury, God of Radio | 8/27/2001 | See Source »

...with an 18-hole golf course, an Olympic-size pool and tennis courts. That helps explain why he identifies with stars like Iverson and Williams, who fit the mold because they break it. They aren't heroes like Tiger Woods, but they attract attention. And they have the stuff of greatness, which means big rewards if they're on your team...

Author: /time Magazine | Title: Rebound For Reebok | 8/27/2001 | See Source »

...Once again, Saddam has managed to put his finger in Washington's eye. The U.S. has been huffing and puffing, trying and threatening to blow Saddam's house down for more than a decade now, and he's still there doing stuff that makes America mad. The reason isn't that American policy is completely wrong; it's just that it's a very difficult situation. It's easier to make plans and wish lists than it is to execute them, particularly since it's not a bilateral U.S.-Iraq conflict. It's a multilateral conflict, involving Arab states that...

Author: /time Magazine | Title: Riding the Intifada Wave, Saddam Scores a Hit | 8/27/2001 | See Source »

...Friday, manufacturing continued to sink into its personal tar pit, with the Commerce Department reporting that durable goods (expensive, long-lasting stuff like cars, air conditioners and computers) fell in the U.S. in July, again, this time by 0.6 percent. And Thursday?s weekly jobless claims hit a nine-week peak while the number of people collecting checks hit 3.18 million, the highest since September...

Author: /time Magazine | Title: The Economy: A Durable Slowdown | 8/24/2001 | See Source »

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