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A former chairman of the Federal Reserve Board famously described his job as "taking the punch bowl away just when the party is getting good." Current Fed chief Ben Bernanke wishes it were so. With stock markets around the world reeling, and with a deep housing slump in the United...

Author: /time Magazine | Title: World Markets Catch a US Cold | 1/23/2008 | See Source »

When Spain's Socialists ousted the conservative Popular Party four years ago, José Luis Rodríguez Zapatero took the surprise election victory as a mandate for fundamental change. He immediately pulled the country's troops out of Iraq, soon legalized gay marriage, and began to take on centuries...

Author: /time Magazine | Title: 'Council of Sages' Advises Zapatero | 1/22/2008 | See Source »

So it might come as a surprise to learn that Abu Dhabi is this week hosting the world's first Future Energy Summit, a three-day gathering of more than 4,000 entrepreneurs, analysts and officials from the alternative energy world, including heavyweights like green designer William McDonough and Icelandic...

Author: /time Magazine | Title: An Oil Giant's Green Dream | 1/21/2008 | See Source »

Huckabee has been counted out before only to bounce back and surprise skeptics, and Saltsman points out that after Florida - which votes on Jan. 29 and where polls show Huckabee in a four-way dead heat - the campaign expects to do well in a number of the mostly Southern states...

Author: /time Magazine | Title: Fred and Michigan Leave Huck Hurting | 1/20/2008 | See Source »

Despite her surprise triumph in Nevada, the Clinton campaign remains convinced that the nomination battle with Obama will drag on for weeks as each side fights to accumulate delegates. If there's still no clear Democratic winner by Feb. 6?and it looks increasingly likely, given that none of the...

Author: /time Magazine | Title: Hillary Wins Nevada, Economy Helps | 1/19/2008 | See Source »

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