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...moon of the lunar month of Kartika marks Diwali, the Indian festival of lights, when Hindus across the country worship the goddess of wealth, Lakshmi. But divinities know full well the laws that govern finance, and Lakshmi may now be a little tight-fisted about circulating her riches amid the ongoing global credit crunch...

Author: /time Magazine | Title: Mirroring the US, India's Real Estate Sector Melts Down | 10/20/2008 | See Source »

...faith meshing so effortlessly with commerce, the season sees sellers, advertisers and marketers urging the devout to spend money with a religious fervor, as they hawk everything from chocolates and consumer durables to gold and houses. Buying a home is considered especially propitious. What better way to welcome the goddess of wealth into one's life than by inviting Lakshmi into a new abode? Thus, the period from just before Diwali through March is usually a bonanza for the real estate industry: some 70% of the annual business is conducted then...

Author: /time Magazine | Title: Mirroring the US, India's Real Estate Sector Melts Down | 10/20/2008 | See Source »

Realtors like Shukla and Gupta may have little reason to light firecrackers this Diwali, but their prayers to Lakshmi, the goddess of wealth, will definitely be more fervent, especially as experts predict that things will get worse before they get any better. "This was a much-needed correction," says Nandan. "And it isn't complete yet. I expect the market to go down further, and it's hard to say when the recovery will begin...

Author: /time Magazine | Title: Mirroring the US, India's Real Estate Sector Melts Down | 10/20/2008 | See Source »

...Down to Earth For me, my current concerns are less global and more spiritual. The former owner of our land, a rice farmer, feels guilty because he failed to erect an on-site shrine to a local goddess. He thinks we should build it to ease his soul and promote village harmony. After all, locals have heard the spirits on our land wailing when they use a nearby water source. Then, in an offhand remark, our shaman tells us about a Frenchman who had built a villa nearby. Wija was called in to bless the land and chat with...

Author: /time Magazine | Title: A Tale of Two Islands | 10/16/2008 | See Source »

...kids (one of them part-piscine) while her husband's away; but for long stretches, when Koichi's life is imperiled by the storm, the movie forgets about him - perhaps because he's doing a bit of illegal whaling. Fujimoto's wife, Gran Mamare, is a magnificent sea goddess, with the perfect posture and forehead jewel of a Bollywood queen, but she doesn't show up till late in the film. Miyazaki also creates a tsunami that, however fantastical and benign he portrays it, can't help recall the fatal force of nature. By American animation standards, these are plot...

Author: /time Magazine | Title: Ponyo: More Ani-Magic from Miyazaki | 9/2/2008 | See Source »

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