Word: returns
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...back. Consumer spending in the U.S. dropped at an annual rate of more than 3% in both the third and fourth quarters of 2008 - the steepest consecutive quarterly declines on record. As incomes shrink and America adopts a more frugal mind-set, some economists do not expect shoppers to return to free-spending ways for years - or perhaps generations. Economist Stephen Roach, chairman of Morgan Stanley Asia, says that "there is good reason to believe the capitulation of the American consumer has only just begun." U.S. consumer spending as a percentage of GDP reached 72% in 2007, well above...
...Obama did not allow his party to dwell on finger-pointing. He kept talking through their applause, forcing them to return to their seats. A coach, after all, cannot lead a team divided. He told the country's leaders, Democrats and Republicans, supporters and opponents of his presidency, that he knew "every American who is sitting here tonight loves this country and wants it to succeed." He continued, "That must be the starting point for every debate we have in the coming months, and where we return after those debates are done. That is the foundation on which the American...
...controversial truce between the Taliban and the government is giving Nisar and many other Pakistanis hope that they may yet return to a vacation land that once held so many pleasant memories. On Tuesday, the Taliban indefinitely extended a fragile 10-day cease-fire with the Pakistani military, granting more time for peace talks to end more than a year of fighting. Last week's agreement to impose a form of Islamic law in Swat has many feeling encouraged that this turbulent region will finally see a return to calm. "The fighting with the military is what made it dangerous...
...sprawling home on the outskirts of Lahore, Nawaz Sharif raised the political temperature with a fiery attack on Zardari. "The nation should rise against this unconstitutional decision and this villainous act of Zardari," he said, his face swollen with rage. In a sign that the country was returning to the politics of the 1990s - a period when four civilian governments collapsed in the span of a decade - the former Prime Minister resurrected accusations of corruption. "Where are those millions of dollars?" Sharif asked in reference to allegations that Zardari salted away the spoils of power during the two times...
...court's ruling is likely to feed support for the upcoming lawyer-led "long march," scheduled in two weeks. Sharif and smaller opposition groups maintain that Chaudhry is the rightful Chief Justice and should be reinstated immediately. The ruling coalition argues that he is "too politicized" to return to office. And while the opposition says it has no wish to derail Pakistan's fledgling democracy, critics fear that street protests could tip the country into deeper chaos, or even invite military intervention. Pakistan's armed forces have always been the country's ultimate power broker, if not its true center...