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...made possible by the economy's one strong spot, housing; rampant mortgage refinancing at lower long-term interest rates (and higher home valuations) has helped consumers restructure their debt and come out ahead a few hundred a month in spending money. But that boom is deflating too, and that extra money will go straight under the mattress if the homeowner starts to worry about his job. (Bad news: announced layoffs hit an eight-year record of 205,975 in July, and the number of people on unemployment rose again last week to 3.17 million, the highest since September 1992. These...

Author: /time Magazine | Title: Person of the Week: The American Consumer | 8/30/2001 | See Source »

...jour: Which party will be hurt the most by the reports of a shrinking federal surplus? U.S. Representatives and Senators, still scattered across the country for their August recess, are beginning to hear questions from constituents, many of whom are nervous: What might happen now that the pile of extra tax dollars isn't as huge as everyone originally thought? The politicians, not surprisingly, are busily crafting messages that blame the budget shortfall on the opposing party. What are the voters hearing? I decided to follow a Democrat and a Republican last week in hopes of finding...

Author: /time Magazine | Title: How Dems and the GOP Spin the Shrinking Surplus | 8/28/2001 | See Source »

BARRY BONDS Hits fastest 50 HRs in history, closes in on record. Extra credit: the Giants are contending...

Author: /time Magazine | Title: Notebook: Aug. 27, 2001 | 8/27/2001 | See Source »

...supplements are supposed to work by increasing thermogenesis--that is, by converting more of the food you eat into heat before it can be stored as fat. Being able to do this safely would, of course, be a welcome way to avoid the buildup of fat and keep off extra pounds. But there are few if any studies in the scientific literature showing that these products can do this effectively or safely. Even so, thanks to a marketing blitz, the supplements have become a multibillion-dollar industry...

Author: /time Magazine | Title: The Trouble With Fat-Burner Pills | 8/27/2001 | See Source »

LIGHT FANTASTIC The hot new gadget at this week's National Hardware Show in Chicago is a breakthrough in...night-light technology? Yep, the Elumina Dimmable, available this fall for $5.99, is the most sophisticated device of its kind ever made. Its features include 10 brightness settings, an extra-long life-span and a special sheath that extends to cover the night-light's plug when it is removed from its outlet--to reduce the risk of bedtime shocks...

Author: /time Magazine | Title: In Brief: Aug. 27, 2001 | 8/27/2001 | See Source »

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