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...country's short history is a bloody-minded chronicle of strife and intrigue against its neighbors, including North Yemen, Saudi Arabia and Oman, and of vicious infighting among its political and tribal factions at home. Last week, as battles broke out in Aden amid reports of a coup, assassinations and widespread killing, the fractious country seemed dangerously close to all-out civil...

Author: /time Magazine | Title: South Yemen: Comrade Against Comrade | 6/21/2005 | See Source »

...Syrian-sponsored peace agreement, it seemed that Lebanon was taking a small step toward ending the carnage that has already cost more than 100,000 lives. Syrian President Hafez Assad warned that he would not allow the peace pact to fail. But even Assad could not have foreseen the vicious warfare that erupted last week, pitting Christian against Christian and spelling an almost certain return to factional...

Author: /time Magazine | Title: Lebanon: Free-for-All | 6/21/2005 | See Source »

...political costs. At present, 70% of our public deficit stems from interest payments. In spite of having increased revenue and reduced expenditures, the load of the interest on the debt has us traveling a vicious circle. If we could reduce the debt-service burden, we would be strengthening the balance of payments and that would give us greater capacity to import--and most of our imports are from...

Author: /time Magazine | Title: Mexico: An Interview with Miguel de la Madrid | 6/21/2005 | See Source »

Taken together, the positive forces have created what Economist Dimitri Balatsos of the Kidder Peabody investment firm has called a "virtuous cycle." This cycle is a mirror image of the vicious spiral of the 1970s, when soaring oil prices and roaring inflation created rising unemployment, slumping stock prices and economic stagnation. Now things are going the other way. Exults Barton Biggs, chief portfolio strategist for the Morgan Stanley investment firm: "It's like watching the movie of the 1970s run backwards...

Author: /time Magazine | Title: The Amazing Boom Machine | 6/21/2005 | See Source »

...motives thundered what others had only whispered: the dominant powers of France, threatened by Germany, narcotized by visions of a glorious and irretrievable past, regarded Jews as dual threats. In one view, they were radicals seeking to undo the state. When that label did not adhere, they were vicious usurers, arms of the Rothschild octopus. The climate of xenophobia was intensified behind barracks doors , where a rising Jewish officer was considered an insult to history and an affront to destiny...

Author: /time Magazine | Title: Aftershocks: THE AFFAIR | 6/21/2005 | See Source »

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