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That's the optimistic view - and, for now, the dominant view of the Fed, most economists believe. But lurking not far from the surface of economic policymakers' deliberations these days is the dreaded d word: deflation. "Sure, we're very cognizant of it," one source familiar with Fed's thinking on the matter told TIME this week. "We don't think we're there yet, but we're very aware of the possibility." So is Wall Street. At Merrill Lynch, chief investment strategist Richard Bernstein issued a report within hours of Barack Obama's election, listing three developments for investors...

Author: /time Magazine | Title: The Rising Threat of Deflation | 11/6/2008 | See Source »

...Word is that “Wicked” the musical is going to be made into a movie. Are you planning to play a role in that?GM: Well, I had forgotten to sign up for auditions. They are making it into a movie but it won’t be anytime soon. They are waiting three or four years for that...

Author: By Lauren J. Vargas, CONTRIBUTING WRITER | Title: 15 Questions with Gregory Maguire | 11/5/2008 | See Source »

...broken, that the very system that produces candidates and frames issues and decides who loses and who wins in public life does little more than make a loser out of the American people. We need to start over, he argued, speak gently, listen carefully, find solutions, keep our word. It was precisely because he was an outsider with a thin résumé and few cronies or scars or grudges that he could sell himself as the solution. (See 10 things that never happened in a campaign before...

Author: /time Magazine | Title: How Obama Rewrote the Book | 11/5/2008 | See Source »

...world leaders tripping over themselves to salute their freshly minted colleague Barack Obama, just as for news anchors across the globe struggling to put Obama's victory into context, only one word seems to do the trick: historic. Repetition of that portentous adjective could have dulled its impact. But the sheer scale of the world's interest - the blanket media coverage; the election-watching parties, some slickly organized, others spontaneous; the fascination that overrode time zones and deep-seated political apathy to keep people glued for hours to radios and televisions and computers and, yes, Twitter - all served as reminders...

Author: /time Magazine | Title: The World Sees Obama's Victory As a New Beginning for America | 11/5/2008 | See Source »

...cautious, and we wasted our first term when we should have been doing big, bold things with our majority." It's a point that Labour Cabinet Minister Shaun Woodward made more obliquely. Obama, he said, "is not only making history but learning from it." There's that H word again. But as the whole world turns its gaze on one man, the term seems entirely...

Author: /time Magazine | Title: The World Sees Obama's Victory As a New Beginning for America | 11/5/2008 | See Source »

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