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...judge by many of the offerings on supermarket shelves, dependable mediocrity and the illusion of choice might well be the twin goals of American mass production. Nowhere is this more apparent than in the beer section, where most national brands stack up with dull similarity. Typically, they are bland, with thin sour-sweet aftertastes. One yearns for the winy, copper-etched malt aroma and the complex flavors of the best beers of Germany, Denmark and Holland...

Author: /time Magazine | Title: Food: Roll Out the Barrel | 11/9/1987 | See Source »

...American companies cannot hope to conquer the trade deficit as long as its twin, the budget deficit, remains so huge. The stimulus of Washington's deficit spending, especially on a steadily expanding economy, makes the U.S. far too hungry for imported merchandise. This connection between the twin deficits has been almost universally recognized for years, and yet the Administration and Congress are still spending well beyond the country's means. That is the perilous formula that came to grief last week...

Author: /time Magazine | Title: The Crash: In The Shadows of the Twin Towers | 11/2/1987 | See Source »

Whether the crash caused the Depression or merely presaged it is still a $ topic of debate. Nobody can say with certainty what caused those twin catastrophes or who is to blame, and so theoreticians have accused greedy speculators, Wall Street manipulators, gold merchants and a carnival of other scapegoats. Those experts who contend that the crash did bring on the Depression blame the Federal Reserve for reacting to the collapse by allowing the money supply to diminish, thereby stifling consumption and investment. Others argue that the stock tumble was essentially a market correction and simply signaled the start...

Author: /time Magazine | Title: The Crash: Once Upon A Time in October . . . | 11/2/1987 | See Source »

...early paintings lies not far below the gesticular surface of his work after 1975. Nevertheless he was putting himself at some risk. His new paintings, as they got loopier and more & baroque, looked like a critique of the high cool and decorous lyricism that had become the twin poles of American abstraction. "Somehow painting today," he would write later, "especially abstract painting, cannot bring itself to declare what Caravaggio and Rubens demonstrated again and again -- that picture building is everything...

Author: /time Magazine | Title: Art: The Grand Maximalist | 11/2/1987 | See Source »

Bringing down America's twin deficits will demand a wealth of ideas and compromises. No single fix will do the job. Nor are any of the remedies likely to be painless. But the Administration and Congress still have time to tailor a compromise on reducing the budget gap before the Nov. 20 deadline, when $23 billion in arbitrary cuts takes hold under the Gramm-Rudman law. Some reasonable proposals for boosting revenue, cutting spending and reducing the trade deficit...

Author: /time Magazine | Title: The Crash: Ways To Get Out from Under | 11/2/1987 | See Source »

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