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...month ago, Harvey knocked Nancy Pelosi because she "rubber-stamped" the stimulus package. He called on Congress to do its job and not "sit on the economic skillet and let the pork sizzle." This was mild stuff compared with a joke Harvey passed along to his listeners in September 2007 about an imaginary meeting of David Petraeus and Chelsea Clinton. The President's daughter asks the general if he's afraid of anything, and Harvey gives this reply: "I am afraid of three things. I am afraid of Osama, and I am afraid of Obama, and, Ms. Clinton...
Sharif says he doesn't buy the explanation and dubbed the court's decision a "nefarious act" by the current Pakistani president - Asif Ali Zardari - designed to quash Sharif's electoral threat. He has called for an anti-government rally next month, but his supporters aren't waiting. Widespread and violent protests broke out after the court's decision, adding considerable tension to a country already near its breaking point. (See pictures of Pakistan's vulnerable North-West Frontier Province...
...optimists are focusing on some surprising data emerging from the Chinese economy. The purchasing managers index (PMI) - a measure of the health of the manufacturing sector - has inched upward since November, indicating that China's important industrial sector isn't decelerating as quickly as it did in the preceding months. Most important, Chinese banks doled out nearly $240 billion of new loans in January - a one-month record. Some economists have taken these data as evidence that China's economy has already bottomed out. Merrill Lynch economists Ting Lu and T.J. Bond reaffirmed their bullish 8% GDP-growth estimate...
...bears, instead, are looking at the Chinese economy's continued signs of weakness. Exports, a key driver of growth, continue to plummet as demand for China's toys, blue jeans and TV sets dries up in the United States. In January, exports plunged 17.5% from the same month a year earlier. Nor are the more negative convinced that the better data coming out of China are as meaningful as they appear. Take, for example, the record level of loans, which some argue won't stimulate growth as much as expected. There are signs that some borrowers, for example, are trying...
...troop levels in the surge of 2007, and he had forced a reluctant Washington to accept a hard deadline for withdrawal in the Status of Forces Agreement adopted late last year. The growing abilities of the Iraqi security forces and the strengthening of his political position after last month's provincial elections have added to Maliki's confidence in managing without the Americans. "We welcome such a decision and support it," said Tahseen al-Shekhli, a spokesman for the Iraqi government, of Obama's intention to end the U.S. combat mission in Iraq by August 2010. "We consider this...