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...understand the Great Consumer Retrenchment is to look at the amount of debt the typical household carries as a percentage of its disposable income. The ratio of debt to income increased from about 35% in the early 1950s to about 65% by the mid-1960s, where it more or less stayed until the late 1980s. That's when debt started its epic rise, hitting 100% of income in 2001 and going all the way up to 133% in 2007. (Read "Five Reasons for Economic Optimism...

Author: /time Magazine | Title: A Drag on the Economic Rebound: Consumer Spending | 6/10/2009 | See Source »

...initially balked at the idea of learning how to properly taste and describe whiskey. How did you go from that to describing brands like High Wine Whiskey as "the rebel no one wants you to date." There's a certain amount of hesitation some people have to trying to understand what they're consuming, whether it's ice cream or whiskey. By personalizing it in a way that is atypical of how most reviewers describe whiskey, I think it's more approachable. So when I say Maker's Mark is like the genius who decided to become an auto mechanic...

Author: /time Magazine | Title: Whiskey: A Travelogue | 6/9/2009 | See Source »

...understand why, let's go back to May 2005. Back then, CEOs loved China because it had become the world's low-cost, increasingly high-quality manufacturing hub. They loved its vast and growing ranks of middle-class consumers. Most of all, the capitalist bosses loved working with officials of the nominally communist Chinese government, who were far easier to deal with than the politicians back home. And why not? On one side, you had autocrats who feared losing their grip on power if the economy didn't keep growing; on the other were autocrats who feared losing their grip...

Author: /time Magazine | Title: The End of the Big Business-China Love Affair | 6/8/2009 | See Source »

...event was first announced," said NRCC spokesman Ken Spain. "A great deal of effort has been put into this fundraising event, and Speaker Gingrich has gone above and beyond the call of duty. It is our hope that Governor Palin will attend the dinner and be recognized, but we understand if her busy schedule doesn't permit her to do so." (See pictures of polarizing politicians at LIFE.com...

Author: /time Magazine | Title: The Governor Who Came to Dinner: Did the GOP Snub Palin? | 6/8/2009 | See Source »

...more willing to cooperate. Kim Jong Il "is like a frog in a well living in his own world," complains Kim, the retiree. "If he opens up, the North Koreans would be better off, and we would be better off, too, but he doesn't seem to understand that." Until he does, the conflict on the Korean peninsula will remain as it has for so long - stuck in time...

Author: /time Magazine | Title: Why South Koreans Are Fed Up With Their Neighbor to the North | 6/8/2009 | See Source »

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