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Back in the U.S., both parties' presidential candidates are humiliating themselves and us with economic nonsense about oil. John McCain speaks passionately on the need for energy independence, but he is sticking to his counterproductive notion of a gas-tax holiday that would cut less than 20¢ from the price of a gallon. This man really thinks we're chumps...

Author: /time Magazine | Title: The Oil Follies? Our Fault | 6/26/2008 | See Source »

...fair, Obama is not alone in his calculated repositioning. McCain, the Republican presumptive nominee, has been going through a similar process, struggling to reclaim his maverick mantle after he spent much of the primaries proving his conservative credentials by flip-flopping his positions on tax cuts and immigration...

Author: /time Magazine | Title: Will 'Experience' Hurt Obama? | 6/24/2008 | See Source »

...billion a year. Though that is less than a tenth of Hollywood's take, India's industry should double in the next five years, while its American counterpart will be lucky to grow 15% or so in that period. The business side of Bollywood, once a byword for dodgy tax deals and shady financing, has gone legit in the past few years, too. Indian companies are now more professionally run, and a few innovators are far ahead of Western rivals in experimenting with things like distributing films over the Internet...

Author: /time Magazine | Title: Spielberg's Bollywood Wedding | 6/23/2008 | See Source »

...there is no guarantee a second vote would win. The referendum got nixed thanks to a bewildering array of mostly unrelated objections, including abortion, neutrality, tax sovereignty, economic prospects, the loss of an Irish E.U. commissioner and the deregulation of the taxi trade. Indeed, an E.U. survey of 2,000 Irish "no" voters said the main reason they rejected the Treaty was that they did not understand...

Author: /time Magazine | Title: EU Blames Ireland, Moves On | 6/20/2008 | See Source »

...simply "walk away." For $995, You Walk Away sends its Walk Away Protection Plan & Kit, which explains the laws regarding foreclosure, debt collection and bankruptcy. It's a nice compilation but nothing you couldn't find online. Customers also get one consultation with an attorney, a tax evaluation and, for an extra $39 a month, a "credit repair" service--but pretty much the only thing it can do is erase inaccuracies in your credit report. What is real--and what is very much downplayed by these outfits--is how completely a foreclosure wrecks your finances. Near term, you might...

Author: /time Magazine | Title: Walking Away From Your Mortgage | 6/19/2008 | See Source »

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