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...Brits close their wallets, all that wealth-creating, job-generating activity is dwindling. Fresh government figures reveal a drop in consumer spending of 0.2% this fall, the worst performance in 13 years, and experts predict profound misery in the final quarter, usually a boom-time for shops thanks to pre-Christmas gift splurges and post-Christmas bargain-hunting. Market research company Synovate forecasts a drop of 7.3% on shopping trips in December. Says Tim Denison, a retail psychologist and director of Synovate, which has used the same matrix to predict retail trends since 1995: "We haven't seen a figure...

Author: /time Magazine | Title: London's Black Friday: Getting a Jump on Holiday Gloom | 11/28/2008 | See Source »

...deceleration in the Chinese growth rate ... is highly likely, and an even worse outcome cannot be ruled out." But a clique of China specialists inside the country predicts a different outcome. They believe that a range of factors unique to China will not only preserve it from the worst of the global meltdown but also keep its economy chugging along at about 8% GDP growth...

Author: /time Magazine | Title: A Nation Apart | 11/27/2008 | See Source »

...left out that after 15 years with no government, Somali businessmen created one to establish order. They succeeded and actually stopped piracy. But the U.S. and Ethiopian militaries attacked the nation's hospitals and civilians and destroyed the government, bringing back piracy - and possibly the worst refugee conditions in the world. Don Lairs, Austin, Texas...

Author: /time Magazine | Title: Inbox | 11/27/2008 | See Source »

...flew to Chad and drove east to the 21st century's first war over water. Darfur, a barren, mountainous land just below the Sahara in western Sudan, is one of the world's worst man-made disasters. Four years of fighting has killed 200,000 people and made refugees of 2.5 million more. The immediate cause is well known: the Arab supremacist janjaweed and their backers in the Sudanese government are waging a campaign to exterminate African and Arab settler farmers in Darfur by slaughter, rape and pillage, burning thousands of villages to the ground...

Author: /time Magazine | Title: Weather Wars | 11/27/2008 | See Source »

...Duck's hat in 1962, causing the character to tip over and dump 50 gallons of water on unamused onlookers. In 1971, rain fell so heavily that the balloon portion of the parade was cancelled. Sonic the Hedgehog broke an off-duty policeman's shoulder in 1993, but the worst accident came in 1997, when 43-mph winds blew The Cat in the Hat into a lamppost, causing the metal arm to fall off and hit 33-year-old Kathleen Caronna on the head. Caronna spent nearly a month in a coma, then sued Macy's and the city...

Author: /time Magazine | Title: Macy's Thanksgiving Day Parade | 11/27/2008 | See Source »

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