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...earn less than $100 a month, and political control remains in the hands of the military, the KGB and former Communist Party officials. As factory subsidies erode and payrolls shrink, thousands of Russia's most talented researchers and millions of factory workers are struggling just to survive. They have thrown open the doors on a backcountry yard sale, offering all comers bargains in everything from highly sophisticated conventional- weapons systems to rare and strategic metals. "This is a very worrisome problem," says U.S. Secretary of Defense William Perry. "The only good news I have is that it does not seem...

Author: /time Magazine | Title: Arms Trade: Arms Trade | 4/18/1994 | See Source »

...have fought a 33-year civil war. In recent years hundreds of human-rights observers and peace supporters -- the majority from the U.S. and Europe -- have flocked to Guatemala to work with and help protect local activists. Some conservatives and editorialists have called for these foreigners to be thrown out of the country...

Author: /time Magazine | Title: Dangerous Rumors | 4/18/1994 | See Source »

...comparisons it begs. For instance, unlike the fresh pot of coffee you will need to revive yourself when the credits roll, this ill-conceived attempt from director Joel and Ethan Coen tastes more like the four day-old black sludge forgotten on the kitchen counter--bitter, could and best thrown...

Author: By Thomas Madsen, | Title: 'The Hudsucker Proxy' Stands in for Real Satire | 4/14/1994 | See Source »

...calls flooded the station. Self-congratulatory calls, really. The parody, a compilation of lyrics sent in by listeners from 38 states, is just the latest artifact in a "We loathe Bill and Hill" movement that spews out everything from bumper stickers to wait-till-'96 support groups. Whitewater has thrown plenty of fuel onto this low-burning but widespread fire. The White House's admission that Hillary made a profit of nearly $100,000 on a $1,000 investment only further stimulates the Clintonophobes' bile. Indeed, in Wade's compilation...

Author: /time Magazine | Title: Clintonophobia! | 4/11/1994 | See Source »

...Example: a major U.S. bank that deals in derivatives thinks it has covered all its bets around the world. But an unforeseen event, such as an earthquake in Tokyo or a coup in Latin America, sends markets crashing in some area. The bank's finely tuned hedging strategy is thrown off balance, and it has no choice but to default on its contracts. A whole chain of interlocking obligations snaps, setting off a series of uncontainable defaults that shake the world financial system. The remaining stock markets plunge, companies go bankrupt, and lots of people lose their jobs...

Author: /time Magazine | Title: The Secret Money Machine | 4/11/1994 | See Source »

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