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...decline of its members' economies next year. That, the OECD forecasts, will be led by a 1% decline in growth in the U.S., a 0.5% contraction in Europe, and 0.1% downturn in Japan. Evidence to back that projection came with Friday's announcement that economic growth across the euro-zone decreased 0.2% in the third quarter of 2008 - the second consecutive contraction, which puts the region into recession by the most common benchmark...

Author: /time Magazine | Title: Stock Markets Undeterred by Euro Recession | 11/14/2008 | See Source »

...contention that France, Europe, or even the global economy isn't already in a recession that's likely to get worse, is a joke," says David Naudé, chief economist for the euro zone at Deutsche Bank in Paris. "The unexpected mini-advance in France notwithstanding, the news is bad, and all forecasts indicate the fourth quarter will be even worse...

Author: /time Magazine | Title: Stock Markets Undeterred by Euro Recession | 11/14/2008 | See Source »

...black community and in those neighborhoods where there are dysfunctional families." To many pundits, both black and white, Obama's election to the White House signals the end of black America's unchallenged status as sore losers and complaint-mongers. "African Americans have just entered the no-excuses zone," Jonetta Rose Barras wrote in the Washington Post. Obama "won't tolerate ... the long-standing narrative of victimhood that has defined black America to itself and to the mainstream for more than a century." The writer John McWhorter, in New York magazine, went so far as to suggest that Obama will...

Author: /time Magazine | Title: Obama and the Myth of the Black Messiah | 11/13/2008 | See Source »

...says. “But I think now we are a lot closer, a lot more experienced, and a lot more resilient. So I definitely think we won’t be having that problem this year.”The Crimson never settled into a comfort zone while away from home, possibly because it was not too comfortable at home either. Harvard’s longest home winning streak was three games last season, but its success at home was also punctuated by several home losing streaks. Although its offense was decent, its defense left much to be improved...

Author: By Ricky Liu, CONTRIBUTING WRITER | Title: BASKETBALL '08 SUPPLEMENT: The Road to Glory | 11/13/2008 | See Source »

...Richter scale and shook the city for a full 45 seconds. Many buildings, including San Francisco's city hall, collapsed almost immediately. Seventeen aftershocks came within an hour and fires raged for three days afterward, destroying 500 city blocks. In photos, 1906 San Francisco resembles a war zone; buildings are left half-standing, the streets are littered with debris, barely anything is recognizable. With an estimated 3,000 deaths, 1906 was the deadliest earthquake in California's history. Economists have even connected the following year's economic crash with the quake; millions of dollars went to rebuild the city, putting...

Author: /time Magazine | Title: The 'Big One' | 11/13/2008 | See Source »

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