Newsweek November 11, 2022

1978 “It was the old-time financial religion from a President who has consistently clung to newer ways,” wrote Newsweek of Jimmy Carter’s shock-therapy program to check inflation with the world’s financial markets near panic. “The heart of the plan was a $30 billion war chest to support the dollar.” Unlike Carter’s reserved funds for price and wage controls, the Federal Reserve has hiked interest rates five times this year to curb inflation. In October, the International Monetary Fund predicted the world’s economic growth will slide to 2.7 percent next year. 1998 “In many countries,” Newsweek said “building at least one tech city is, economically speaking, a matter of national security…to exploit the digital revolution.” In 2022, around nine million people work in the tech industry in the U.S., representing approximately $1.8 trillion, nine…

BASKETBALL, CHAMPAGNE, POPCORN, PRINTING AND RECYCLING ▸ What do these have in common? Basketball Hall of Famer and 12-time NBA All-Star Isiah Thomas grew up “below the poverty” line, but found “sacredness” in basketball and lasting success as an entrepreneur and philanthropist. And how was it that he was featured on the covers of Forbes and Sports Illustrated the same year? HOST ▸ Jason Greenblatt, former White House Middle East envoy IN THEIR WORDS ▸ “Looking back, we didn’t know we were entrepreneurs…I didn’t know I was in the waste removal business, landscaping business or customer service business.” DON’T MISS FAST WOMEN Test-driving the newest cars on wild adventures ‘More Oomph’ ▸ The Toyota Highlander and Corolla have more powerful engines, and the new Honda CR-V is “fantastic.” Plus: The Defender version of the “Amazing Race”…

A Ukrainian soldier looks out from a tank on October 27 during patrols of Bakhmut, which has remained in Kyiv’s control during eight months of war despite Russia’s attempts to secure the Donbas region in which it is located. But now, Moscow’s drive to capture the city has grown fiercer, as a victory here would disrupt Ukraine’s supply lines, provide a path for Russia’s military to move toward other strategic Ukrainian strongholds and bolster its domestic reputation, which has suffered after the loss of large swaths of previously held territory.…

FOR 45 YEARS, LUCY STUDEY, 53, TOLD ANYONE who would listen that her father had murdered scores of young women and men, burying some of them with the help of his children. No one believed her. Cadaver dogs have now pinpointed suspected human remains at the spots she identified in a remote stretch of western Iowa, about 40 miles south of Omaha, Nebraska, investigators tell Newsweek. “I know where the bodies are buried,” Lucy Studey previously told Newsweek. She recalled how her father, Donald Dean Studey, would transport bodies, using a wheelbarrow in the warmer months and a toboggan in winter. Many bodies, she says, were dumped in a well about 100 feet deep. Others, she says, were buried in shallower graves along trails. “He would just tell us we had to…

“IT DIDN’T EVEN SEEM LIKE A SPORT TO US IN THE BEGINNING.” —Anna Leigh, 15-year-old professional pickleball player“I have work to do to restore trust after all that has happened.” —U.K. PRIME MINISTER RISHI SUNAK“If any of those Republicans and Democrats think we’re going to roll over, our horses are ready.” —joye braun of the cheyenne river sioux tribe opposing a carbon dioxide pipeline“Just going to work as an actress consistently—for me, that was the soft life.” —ANGELA BASSETT“IN A WRITING LIFE, YOU’VE GOT TO BRACE YOURSELF FOR MOST DISAPPOINTMENTS.” —Booker Prize Winner Shehan Karunatilaka“Well, there might be somebody else I’d prefer more.” —Former Vice President Mike Pence on voting for Trump in 2024“IF THESE WALLS COULD TALK IN THIS CAR, OH MY GOD.” —Shanti Gooljar, New York driving instructor FROM…

CHINESE LEADER XI JINPING APPEARED to revise his long-term economic outlook when he opened a major political event last month, hinting at modest growth that casts fresh doubt on China’s capacity to surpass the United States in the future. Beijing’s two-step plan to build what it calls a “great modern socialist country in all respects” by 2049, the centennial of the People’s Republic of China, involves first raising levels of public wealth and doubling the national economy by 2035. To achieve that, economists believed China would need to maintain annual gross domestic product growth of at least 5 percent, a once-realistic trajectory that might have seen it one day overtake the U.S. economy in GDP terms—valued at $23 trillion versus China’s $17.73 trillion in 2021, according to the World Bank’s records. This first…