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...rest of the world. Financial profligacy is not an American monopoly but is common to all free-market democracies. The U.S. and the world have seen worse times, and this one too will pass, pessimists and naysayers notwithstanding. To predict "the end of the American era," as Michael Elliott does, is both premature and foolish. The U.S. still has a huge population of highly educated, smart and hard-working people who continue to excel in innovation and industry. Readers who live outside the U.S., as I do, have only to look around them to see how American products and culture...

Author: /time Magazine | Title: Inbox | 10/23/2008 | See Source »

...acquisition, Kingsmill and Merriman powwowed in a café in beachside Manly. For managing director Kingsmill, high on the to-do list was meeting with Jennings and Mombassa. A founding member of the celebrated band Mental As Anything, Mombassa never formally cut ties with Mambo, but in the Gazal era they frayed to a thread. In the old days, Mombassa would fill his notepads with sketches and show them to Jennings. "Dare was willing to run with stuff that wasn't going to be commercial," says Mombassa, "because he wanted to make a point." In the Gazal period, when...

Author: /time Magazine | Title: Born-Again Mambo | 10/23/2008 | See Source »

...does not claim to be middle of the road; he criticizes Childers for being middle of the road. Davis is a throwback to the small-government GOP revolutionaries of 1994, before they took power and discovered that Big Government had its perks. He believes the trouble with the Bush era has been overspending, and he's hammering away at Obama, Pelosi and the specter of a liberal counterrevolution that would turn health care over to the government. When I remind him that Medicare is a government program, Davis doesn't hesitate: "And look how great that turned...

Author: /time Magazine | Title: Blue Dog Democrats on the Prowl | 10/23/2008 | See Source »

...other politicians like to refer to as "light-touch" regulation. In June 2007, just days before he replaced Tony Blair as Prime Minister, Brown gave a rousing speech at the traditional black-tie dinner in Mansion House, the residence of the lord mayor of the City, brashly predicting an "era that history will record as the beginning of a new golden age for the City of London...

Author: /time Magazine | Title: London Falling | 10/23/2008 | See Source »

...Party conference last month in Manchester, where delegates adopted a new vocabulary. In fringe meetings, speakers inveighed against "the spivs" (British slang for slick criminals) who caused the mess, while union leaders and politicians raised cheers by bashing the rich. In his keynote speech, Brown talked of a new era that demands heavier regulation...

Author: /time Magazine | Title: London Falling | 10/23/2008 | See Source »

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