Word: congression
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...that the unrestrained buildup of U.S. government debt - and the likely need to print money as a result - would inevitably undermine the dollar's value. "Unchecked greenback emissions will certainly cause the purchasing power of currency to melt," the sage of Omaha wrote. "The dollar's destiny lies with Congress." Richard Portes, a professor of economics at the London Business School, believes that central banks will increasingly see other currencies, especially the euro, as more reliable storehouses of value. "The idea that there is no place to go is wrong," Portes says. If that's the case, the dollar better...
...agreement, in fact, leaves it to the Honduran congress to decide whether the leftist Zelaya should be restored before the presidential vote (in which he's not a candidate). But Zelaya, still holed up in the Brazilian embassy in Tegucigalpa since sneaking back into the country from exile in September, appears to have grossly miscalculated the odds of the legislature voting in his favor, and that leaves a cloud of uncertainty hanging over the accord. On Friday, Zelaya told Radio Globo that the accord was "dead," adding that there was "no sense in deceiving Hondurans." (See pictures of the protests...
Days after ousted Honduran President Manuel Zelaya and interim leader Roberto Micheletti signed a U.S.-brokered accord on Oct. 30, resolution of their long-running standoff was delayed again. Under the deal, the Honduran congress must decide whether to reinstate Zelaya for the remainder of his term; a legislative committee declined to call a special session for the vote, opting to await an opinion from the Supreme Court on the matter...
...what a lot of people concluded after conservatives forced the official Republican candidate out of a congressional race in upstate New York for being too liberal. That candidate, Dede Scozzafava, promptly endorsed the Democrat running for the seat - who then won an area that had been sending Republicans to Congress since 1872. Even some Republicans are complaining that a party purged of moderates would be unable to win elections outside the South. The party would be left with a hard-core conservative base, and nothing else...
...this narrative doesn't hold up even in that New York congressional district, let alone in the rest of the country. Scozzafava was not a moderate Republican. Her support for same-sex marriage and her stance on unions put her to the left of many Democrats in Congress. Several moderate Republicans, such as former governor George Pataki, endorsed the Conservative Party candidate, Doug Hoffman. Anyway, Hoffman lost so narrowly as to suggest that a conservative could have won under slightly different circumstances. (See pictures of Republican memorabilia...