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Rather than face up to all this, too many in the GOP are stuck in a swoon of nostalgia. Most of our party leaders come from bloodred GOP states or safe districts, so they are far more at home in the tribal politics of Republican primaries than in those of the country as a whole. You could say their radio dials are stuck on AM. The result is we hear a lot about going back to "the winning ways of Ronald Reagan." Well, I love Reagan too. But demographics no longer do. In 1980, Reagan beat Jimmy Carter...

Author: /time Magazine | Title: For Republicans, the Ice Age Cometh | 6/22/2009 | See Source »

...financial-industry meltdown as it is an intense lack of affordability. As the report notes, metropolitan-area New York home prices peaked in the second quarter of 2007 at $552,000. By the first quarter of 2009, the median price had dropped 19%, to $446,000, but the market swoon was less than half the drop recorded in many other areas of the country. Today among the 10 biggest metropolitan areas, New York ranks as the least affordable...

Author: /time Magazine | Title: New York Home Prices Forecast to Drop 40% | 6/16/2009 | See Source »

...retailing. During the Golden Week holiday in early May, typically a shopping extravaganza, Los Angeles-based chain Forever 21 debuted its flagship store in Japan. Harajuku girls lined up on five floors full of clothes, shoes and accessories in enough of a dizzying array to make any young woman swoon. It wasn't the first time the giants of cheap chic had stormed Tokyo. Last November about 2,500 shoppers jammed the very same sidewalk for the opening of Swedish H&M, the world's third largest casual-clothing retailer, located next door. And that was just one month after...

Author: /time Magazine | Title: In Japan, Fast Fashion Rules in Slow Times | 5/18/2009 | See Source »

Swine flu, recently renamed H1N1 virus, is causing a swoon in pork prices. The Lean Hogs futures contract, traded on the Chicago Mercantile Exchange (CME), is down more than 10% since news of the potentially imminent pandemic first broke. The CME's Frozen Pork Bellies futures contract has suffered comparable losses...

Author: /time Magazine | Title: Amid Swine Flu Fears, the Pork Market Falls Ill | 5/5/2009 | See Source »

...longtime resident and pro-immigrant activist. Blessed by an abundance of Douglas fir and hemlock, the town once hummed with pulp plants, stud mills and palletmakers. A few decades ago, though, the mighty Columbia began delivering logs from Canada, then ready-made office paper from Asia. The financial swoon of 2008 was just a final insult to what remained of the town's manufacturing base. Most of the major employers have closed in the past six months or drastically cut hours and staff. The town, whose motto in the good times was "The Payroll City," is on the brink...

Author: /time Magazine | Title: Despite Backlash, Illegal Immigrants Stay Put | 4/9/2009 | See Source »

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