COVER: "Road to Recession" (p. 39). Senior Writer Daniel Gross looks atthe signs that are pointing to a recession in America and whether or not thatwill pull the rest of world down with it. A recession is defined as awidespread contraction in economic activity lasting more than a few months,and because of the lag in financial data, recessions typically aren'tofficially declared until long after they start. In short, the U.S. couldalready be in one. "Though world markets stabilized by late last week, buoyedby the Fed's rate-cut action and a proposed stimulus package of $150 billionthat was hastily cobbled together by leaders in the House of Representativesand President Bush, the question remains: how ugly will it get, and when willit end?" Gross writes.
POLITICS: "Just Don't Know What to Do With Myself" (p. 24). Senior WriterSuzanne Smalley, with a team of Newsweek correspondents, reports on the impactformer president Bill Clinton may be having on his wife's presidentialcampaign. He claims the feuding between Barack Obama and his wife is media-driven and he's right, for now at least. The voting public seems lessinterested in the feuding than do the pundits. But whether Clinton's attacksare part of some grand campaign strategy is almost beside the point. He is anunstoppable force of nature, a keenly intuitive politician who is not going tobe part of someone's strategic plan unless it's his own, and even then he'llroar off in a different direction if his mood or his instincts move him.
"Here an F.O.B., There an F.O.B." (p. 30). Investigative CorrespondentsMichael Isikoff and Mark Hosenball report on some of former president BillClinton's business ties and whether they may have an impact on Hillary'scampaign. Bill Clinton is a private citizen and does not have to disclose mostdetails about his charitable and business ventures. But his private dealingsraise inevitable questions about who might come seeking favors if he andHillary move back into the White House.
POLITICS: "A Complete and Utter Buzz Kill" (p. 29). White HouseCorrespondent Holly Bailey reports on the short presidential campaign of FredThompson. In July, Thompson gave a series of speeches that flopped and heraised about $2 million less than he'd hoped. By August, he had gone throughthree campaign managers.
INTERVIEW: Presidential candidate Barack Obama (p. 32). Senior Editor andColumnist Jonathan Alter talks to Democratic presidential candidate BarackObama about the campaign. Alter asks him about what Bill Clinton called the"contact sport" of politics. "It's not my preference. Do you remember when[Michael] Jordan's Bulls were playing the Detroit Pistons? They had the'Jordan Rules' [defense] ... But until the Bulls learned to push back, it wasgoing to be hard for them to win. It's not something I shy away from, but notsomething I relish. We're not going to back down."
"Everything to Everyone" (p. 33). Miami Bureau Chief Arian Campo-Floresreports that as the Democratic nominating contest barrels toward Feb. 5, thestark racial divide between blacks and Hispanics appears to be hardening.Clinton's support among Latino voters has always been stronger than Obama's,and until recently she was also leading among African-Americans. Since Obama'svictory in Iowa, however, blacks have coalesced behind him, perhaps realizinghis candidacy is viable. While many commentators have dwelled on racialtension between the two groups, in reality, the divide has more to do with thecandidates' inherent appeal and the effectiveness of their outreach.
"I Am Woman, Hear Me Snore" (p. 36). Society Editor Julia Baird reviews anew book of essays about Hillary Clinton titled "Thirty