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...that got us here - securitized debt? credit-default swaps? uh, sure, whatever - Americans can now revert to their ruthlessly pragmatic, commonsensical selves. Admitting that we aren't certain exactly how to proceed is liberating, and key. Hyperbolic rants and rigid talking points, in either Limbaughian or Olbermannian flavors, now seem worse than useless, artifacts of a bumptious barroom...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

...spirit endured through the '90s and the 2000s, all the way until the fall of 2008, like an awesome winning streak in Vegas that went on and on and on. American-style capitalism triumphed, and thanks to FedEx and the Web, delayed gratification itself came to seem quaint and unnecessary. So what if every year since the turn of the century the U.S. economy grew more slowly than the global economy? Stuff at Wal-Mart and Costco and money itself stayed supercheap! Even 9/11, which supposedly "changed everything," and the resulting Iraqi debacle came to seem like mere bumps...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

...charges of socialism have lost the political power they had for most of the past century. Rather, it's suddenly capitalist piggishness that provokes genuine rage. When nearly half the House Republicans vote for a confiscatory 90% tax on Wall Street executives' bonuses, the old "class warfare" lines seem moot...

Author: /time Magazine | Title: The End of Excess: Is This Crisis Good for America? | 3/26/2009 | See Source »

...still has unrivaled power to lead - meaning the ability to build coalitions to attack the world's problems. Gelb is a prickly moderate. He does not mince words. "Republicans act like rabid attack dogs in and out of power, and treat facts like trash," he writes. "Democrats seem to lack the decisiveness, clarity of vision and toughness to govern...

Author: /time Magazine | Title: Obama on the World Stage: What Power Means | 3/26/2009 | See Source »

...Obama doing too much TV? To people who follow politics constantly, sure. ("The first President whose campaign was his qualification for office continues to campaign," sniffed George Will.) But those are not the people you go on the Tonight Show to get. The broader electorate doesn't seem so burned out yet, judging by Obama's approval ratings and the TV ratings. But that didn't stop the fainting spells over whether Obama was somehow abandoning his duty by talking to the public on TV. (This is a bad thing, by the way? I mean, we gave how much airtime...

Author: /time Magazine | Title: Obamathon: Is the President Overexposed? | 3/26/2009 | See Source »

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