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...came the most influential of the stocks-vs.-bonds studies yet, Jeremy Siegel's Stocks for the Long Run. The book, which laid out the records of stocks and bonds going back to 1802 and found stocks winning by a mile for almost every 30-year period over those two centuries, became a must-read for investors. Siegel--a professor of finance at the University of Pennsylvania's Wharton School--became what one journalist described as "the intellectual godfather of the 1990s bull market...
...republics as satellite states. From Ashgabat to Astana, the ruling elites are all holdovers from the Soviet era, and sometimes more fluent in Russian than their national tongues. "Their regimes operate," says Eric McGlinchey, a Central Asia specialist and professor of politics and government at George Mason University, "along almost pathological networks of patronage" - and ones that Moscow knows how to navigate. That close working relationship has been on full display recently in Kyrgyzstan: spurred by a Russian promise of $2 billion in aid, the Kyrgyz government signaled its intent to shut down the U.S.'s pivotal Manas air base...
...That translates into a somewhat depressing reality for the over 50 million people living in the region. The world's "freedom rankings" compiled by Freedom House, a Washington D.C.-based human rights NGO, place all five of the post-Soviet 'Stans near the bottom. Independent media is almost non-existent. Human rights activists are frequently detained and tortured, and many others live in exile. Even in Kyrgyzstan, where a so-called "velvet" revolution toppled the ruling president in 2005, the subsequent government has done little to distinguish itself from the past. "Central Asians tolerate an awful lot," says Roberts. "They...
...European condemnation only led the government to turn to Moscow's embrace and throw out numerous international NGOs and foreign aid agencies. The country's dissidents receded further into the margins; the more pronounced opposition now tends to be radical and violent. "Islamic militancy here," says McGlinchey, "has almost always more to do with the oppressiveness of the local governments than some kind of trans-national religious calling...
...Khamenei were involved in a public spat over Ahmadinejad, with Rafsanjani wanting the Supreme Leader to censure the President for what he described as slanderous remarks. Khamenei refused. Ahmadinejad's followers continue to see Rafsanjani (also a former President) as the enemy. At Ahmadinejad's celebratory rally on Sunday, almost all chants were directed against Rafsanjani. He is seen as the big threat; there is even speculation that Rafsanjani may see himself as the next Supreme Leader, which would be disastrous for the President...