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...immediate euphoria that boosted world stock markets following the announcement of government plans to prevent broad financial collapse has now given way to longer-term worries that the world is entering a recession. After starting the week with two days of remarkable gains, markets in Asia and Europe Wednesday registered moderate losses similar to those of Wall Street, which dipped 0.82% on Tuesday. Like everyone else, traders are waiting for clearer signs of what the future holds...
...stimulus package, which could possibly be dealt with during the congressional "lame duck" session following the election - and faces longer odds in the Senate - could pour up to $150 billion into the economy in the form of massive construction projects, grants to states and additional aid for food stamps and unemployment benefits. Some are calling it "Plan C," coming in the wake of "Plan A" - the Wall Street rescue package - and "Plan B," the effort now underway to recapitalize ailing banks and get credit, the lifeblood of economic health, flowing again. Both of those plans are to be funded...
...makes it impossible to know what to expect in macro terms in the medium run. Indeed, Paul Tsang, senior vice president at Polaris Securities in Hong Kong, says he expects the rebound to continue as investors wait to see how the proposed bailout plans affect financial institutions, but that longer-term predictions remain murky. "My initial hunch is consolidation will continue for one or two weeks," he says. "After two weeks, we'll see another change, either up or down." - With reporting by Peter Ritter / Hong Kong (Click here to see photos of how London faces painful and uncertain times...
...accident that registrars' rulings are often strictest in small towns, where students could potentially swing a local election. In 2004, after a voter drive registered 2,000 William and Mary students in Williamsburg - home to fewer than 12,000 residents - the local registrar announced that students no longer had domicile and could not vote there. "If you're a homeless person, you're allowed to write down the landmarks that you live around," says Zach Pilchen, president of College Democrats at William and Mary, pointing to a space on Virginia's form reserved for that purpose...
...problem with any potential Taliban agreement lies in incentives. Chaos in Afghanistan has always played to the Taliban's advantage, which makes the notion that its leaders could be seduced by promises of stability myopic. Besides, Zaeef, who is no longer a member of the Taliban leadership but still adheres to the Taliban philosophy, says the Taliban are not fighting for power but for ideology. "Until the Americans and other foreigners leave, this war is not for share in the government, but a war of obligation, a holy jihad...