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...average fall of only 4% for other industrial powers). There are some encouraging signs. Bank lending rates are now in the 10% range, down from 17% in 1980, and mortgages have fallen from 15% to a more affordable 10%. Productivity is up, and the rate of wage hikes is down. But none of these signs of improving health are proof that the rebound will persist or that Thatcherism is a success. Although the Prime Minister is convinced that Britain is on the motorway to recovery, many economic experts have doubts. Even official Treasury projections indicate that growth will slow again...

Author: /time Magazine | Title: Thatcher Triumphant | 2/18/2008 | See Source »

...issue during next week's recess. But the battle has been so starkly refined into one over immunity that it's hard to see how either side can back down. That means the election season will feature debates about whether its okay to break the law in order to wage war on terrorism. Are Democrats sure that's a fight they want to have? "There certainly is polling" supporting the party's position, says the senior Senate Democratic aide. "But that's not what people rely on; they rely on their guts. The President has played this fear card...

Author: /time Magazine | Title: At Odds Again on Wiretapping | 2/15/2008 | See Source »

Iraqi Prime Minister Nouri al-Maliki has vowed to wage a "decisive battle" against insurgents in Mosul, which U.S. and Iraqi officials say is their last urban haven. But U.S. forces trying to stamp out insurgent networks in that city lack a major boon the surge effort has had elsewhere in Iraq over the past year: Local volunteer fighters...

Author: /time Magazine | Title: Where's the 'Decisive Battle' for Mosul? | 2/15/2008 | See Source »

...scholars and policy experts, developing a “participative democracy” through online blogs and town-hall meetings, and working with leaders at the grassroots level. Even as Royal called on her fellow Socialists to stick to traditional leftist policies—such as raising the minimum wage, improving public infrastructure, and eliminating tax breaks for corporations and the wealthy—she also demanded that the Left take harder stances on conservative issues like immigration, domestic security, patriotism, and religion.“We don’t want conservatives with bad ideas on one hand...

Author: By Prateek Kumar and Rachel A. Stark, CRIMSON STAFF WRITERSS | Title: Royal Calls For Reform Of Left | 2/8/2008 | See Source »

...Hesse, which includes Germany's financial capital, Frankfurt, the Social Democratic Party (SPD) posted an 8 percentage point gain in the popular vote - at the expense of its conservative rivals, Chancellor Angela Merkel's Christian Democratic Union (CDU) - with a campaign for "social justice" and a statutory minimum wage. In both Hesse and neighboring Lower Saxony, a far-left-wing party with roots in the former East Germany won seats in a major west German parliament for the first time. "Today we have changed the cultural and political landscape of the German Federal Republic," Left Party Secretary-General Dietmar Bartsch...

Author: /time Magazine | Title: What Worries Germany | 1/30/2008 | See Source »

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