Word: turmoils
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This weekend Iran is roiled by the greatest turmoil since the 1979 revolution, while there is an ongoing debate inside the Obama Administration. One camp has argued that the Iranian political order could be fundamentally shaken in the days ahead, as in Poland in 1989 and Ukraine in 2004. The other camp, which appears to be the majority view among Obama's principal advisors, has thus far predicted that mass unrest will be crushed, as in the 1968 Prague Spring or the 1989 Tiananmen Square protests, and it is dangerous to take the side likely to lose; especially since President...
...Defining the parameters of this new normal is not something that can be done with pinpoint precision. I started paying attention to the news (and subscribing to TIME) during another period of economic turmoil, the late 1970s, and soon became convinced that I would never know a world in which gas was affordable, inflation wasn't in double digits and jobs were anything but scarce. Then the 1980s and '90s happened. So there is a danger in extrapolating present conditions to the future - and the U.S. economy has a wonderful penchant for surprising us all to the upside...
...Iraqis have more pressing problems closer to home. For all the coverage of the Iranian election and its aftermath, Iraqis have been transfixed by a domestic story. The June 12 assassination of prominent Sunni leader Harith al-Ubaidi threw Iraqi politics into turmoil, raising the frightening prospect of a return to the sectarian war that nearly tore the country apart in 2006-07. Those fears have abated somewhat, but Ubaidi's murder continues to dominate the headlines. "Iranian politics is interesting, but for us, it is a sideshow," says Amr Fayad, a political analyst in Baghdad. "We are worried about...
...Today, as giants like General Motors tumble into bankruptcy and others like Sony struggle with historic losses, smaller rivals are maneuvering for their market share. On the following pages, TIME looks at the key strategies of four companies that are seizing opportunity amid turmoil...
...governed as much by moral codes as by legal ones--defaulting on your debts was considered a moral failing. Accordingly, owing as little as 40 shillings (less than the price of a fine pair of bedsheets) could get you thrown into a Dickensian debtors' prison. Amid the financial turmoil that followed the Revolutionary War, however, delegates to the Constitutional Convention predicted the nation might need laws that would facilitate going belly-up in an orderly fashion. The first federal bankruptcy law, which drew on English statutes, was signed in 1800 and redounded to the benefit of at least one delegate...