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...There are two aspects of the ongoing recession that may come as a surprise to some observers as events unfold. The first will be the failure of central banks to re-ignite credit growth in the ailing banking system. The second will be the failure of governments' debt expansions to increase the cost of funding. In other words, the long end of the yield curve will continue to be depressed, just as it has been in Japan for the past 16 years. In the early 1990s observers in Japan argued that 10-year Japan government-bond yields of 3.5% could...

Author: /time Magazine | Title: Bet on Bonds | 2/11/2009 | See Source »

...Given what's about to unfold, a smooth ride would be nothing short of heroic. The President has to push his $800 billion stimulus measure through a potentially ornery House-Senate conference, firm up support for a wildly unpopular financial reform package known as TARP 2, and find a replacement for Tom Daschle, who took himself out of the running for health care czar last week amid revelations of unpaid taxes...

Author: /time Magazine | Title: What Will Obama Learn from the Stimulus Saga? | 2/9/2009 | See Source »

...decided to do something, but what? He thought about making a show or a speech, but as he watched the rapid-fire auction unfold around him he had an idea. He would bid himself-entirely without the cash to pay for any land he might win. "I thought I'd just drive up the prices," DeChristopher says...

Author: /time Magazine | Title: To Protect Public Land, Eco Protesters Get Creative | 1/31/2009 | See Source »

Before that can happen, however, Melton wants to learn more about how diseases develop. And iPS cells make that possible too. For the very first time, he can watch Type 1 diabetes unfold in a petri dish as a patient's cells develop from their embryonic state into mature pancreatic cells. The same will be true for other diseases as well. "There is a good reason we don't have treatments for diseases like Parkinson's," says Melton. "That's because the only way science can study them is to wait until a patient appears in the office with symptoms...

Author: /time Magazine | Title: Stem-Cell Research: The Quest Resumes | 1/29/2009 | See Source »

Like a singer egged on by Simon and Randy, Blago had his own enablers goading him to take one more stab at "Bohemian Rhapsody." When he fled his Springfield impeachment for Manhattan, TV producers had only to book him, mike him and watch their good fortune unfold...

Author: /time Magazine | Title: Blago Talks! (And Talks ...) | 1/29/2009 | See Source »

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