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While no more than 5% of LBOs have so far been failures, an economic downturn could sharply raise the number of casualties. Warned Manuel Johnson, vice chairman of the Federal Reserve Board, in a June speech: "If there were a significant negative shock to the economy, high debt levels could...

Author: /time Magazine | Title: LBOS: Let's Bail Out | 8/14/1989 | See Source »

Those who stay behind dwell in a Latin version of Dickensian squalor. Managua is a succession of seedy shantytowns, abandoned buildings and lots where cows, goats and horses forage. Twice a week water is cut off, and rotating power blackouts add to the capital's desolation. In the countryside some...

Author: /time Magazine | Title: Nicaragua Decade of Despair | 7/24/1989 | See Source »

And it is not, it must be added, a day at the beach. Those who feel guilty, summer after summer, about not reading War and Peace can positively grovel at the prospect of the unquestionably difficult and demanding August 1914. It offers an encompassing narrative, told from dozens of different...

Author: /time Magazine | Title: Russia's Prophet In Exile ALEKSANDR SOLZHENITSYN | 7/24/1989 | See Source »

These sentences foreshadow nearly everything to come in Spartina, although just how cleverly Casey tips his hand does not become clear until much later. Pierce's family once mattered in this region of Rhode Island, but not any longer. A succession of bad breaks has "squeezed him up Pierce Creek...

Author: /time Magazine | Title: Books: Deep Currents | 7/17/1989 | See Source »

Bills to deny Medicaid funding for abortions were vetoed 18 times in 15 years by a succession of Governors before pro-life forces got such a measure adopted by referendum last year. Undaunted, Democratic Governor James Blanchard vows to veto any further restrictions, including those contained in a package of...

Author: /time Magazine | Title: Five Political Hot Spots | 7/17/1989 | See Source »

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