Hitchens: We're Now a Banana Republic

(NEWSER) - Waterfalls are a prime tourist destination, and for good reason. Travel + Leisure runs down a list of the “world’s most spectacular,” but check before you go. Visit in the wrong season and you’ll see just a trickle. And dams can turn off the spectacle in a second.

• Victoria Falls, Zimbabwe: Even the mist clouds create "a natural spectacle."
• Angel Falls, Venezuela: The "undisputed tallest waterfall in the world" is visible only after a long slog to a viewing point.

Conference Board's index at half its year-ago value

(AP) - Americans' mood about the economy darkened even more in January, sending a widely watched barometer of consumer sentiment to yet another new low as people worry about their jobs and watch their retirement funds dwindle. The Conference Board said its Consumer Confidence Index edged down to 37.7 from a revised 38.6 in December, lower than the reading of 39 that economists surveyed by Thomson Reuters had expected. More»

Deal seems to be grinding gears

(NEWSER) - The federal auto industry bailout appeared to be stuck in neutral as President Bush warned today that a deal is not imminent. "We're not quite ready to announce that yet," Bush told reporters on a plane to Afghanistan. Lawmakers expected the administration to quickly reallocate part of the $700 billion market-recovery pot after Congress failed to rescue the Big Three last week, Reuters reports. More»

(NEWSER) - Though it's no secret the country is weathering a financial calamity, the crisis still lacks a catchy handle. The New York Times takes a look at news organizations' so-far unsuccessful efforts to find one: Some obvious contenders such as “credit crunch” and “Wall Street crisis” have popped up, but none have truly crystallized the trouble. "Great Recession" seems to be gaining steam, but only time will tell. More»

(AP) - President Bush this morning confirmed the government's $250 billion plan to buy shares in banks, in the latest move to calm the turmoil in the financial markets and stave off a deep recession. Speaking from the Rose Garden after an early-morning meeting with economic advisers, Bush said the move will help restore confidence and "return our economy to the path of growth and prosperity." More»