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...John Maynard Keynes told us that the “ecosnomic problem” is not the permanent problem of the human race. One hundred years from now, he wrote, our grandchildren would have found a solution to that problem. But 80 years after the Great Depression, in the midst of an unprecedented banking crisis that has many Americans wondering if the economy will bring our nation to ruin, it is a fair question as to whether the extraordinary growth of the past few decades has brought us any closer to finding a solution to the “economic...

Author: By Anjali Motgi, CRIMSON STAFF WRITER | Title: Not Much Great About 'Delusion' | 10/17/2008 | See Source »

...Selling the dollar short because of the financial crisis is not a sure bet. All economic news is relative, and right now the news is bad all over the world. Over the next several months, the greenback could even begin to look like a safe harbor in the midst of the global economic storm...

Author: /time Magazine | Title: Why the Buck Has Pluck | 10/16/2008 | See Source »

...damage had been mounting so swiftly that in the midst of a global stock-market rout that ate 18% of the Dow, Treasury Secretary Hank Paulson was forced to import a plan he once considered practically un-American. Paralleling a program authored by U.K. Prime Minister Gordon Brown, it called for the U.S. government to take partial ownership of nine leading banks and offer to buy pieces of hundreds of others. On Oct. 13, the nine bank bosses, assembled in the Treasury's imposing boardroom, were each handed a piece of paper with the terms: $25 billion of preferred shares...

Author: /time Magazine | Title: The Big Bank Bailout: Are You Next? | 10/16/2008 | See Source »

...machines, have cut sales projections and warned about weak orders. "It's a double whammy," says Dino Sola, a finance professor at the University of Monaco. "First the credit crunch gets out of control and then, when we get our act together, we realize that we are in the midst of a recession that is potentially deep and long-lasting...

Author: /time Magazine | Title: The Economy's Perilous Waters | 10/15/2008 | See Source »

...recent days, McCain has attempted to move away from his campaign's controversial negative tone, and instead present his genuine optimistic persona and inspire Americans with leadership and good humor during these uncertain times. While still in the midst of this midcourse correction, it may be risky for McCain to strike Obama forcefully in such a high-profile forum...

Author: /time Magazine | Title: In Final Debate, Can McCain Rattle an Imperturbable Foe? | 10/15/2008 | See Source »

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