Word: rising
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...Immigration and National Identity Minister Brice Hortefeux described his "pride" in announcing the expulsion of 30,000 illegal immigrants from France in 2008 - a rise of nearly 29% over the previous year. In doing so, Hortefeux surpassed a deportation quota of 26,000 Sarkozy had set for him. Leftist and centrist opponents of Sarkozy's policies note that Hortefeux's announcement came just hours after his boss's explanation in Nîmes that a museum of French history will "reinforce national identity". (See pictures of the Pope visiting France...
...Many factors are dampening investors' enthusiasm, including recession-smitten corporate profits and the uncertain prospects for economic recovery. "If you believe that corporate profits have no chance to rise in the next two to three years, then you could argue that stock prices are still too expensive," says Masaaki Kanno, chief economist at JPMorgan Securities in Tokyo. "More importantly, you could argue that it's too risky to hold the stocks." Kanno says people have lost a sense of what's fair value for financial assets, including stocks and other risky assets; they prefer time deposits, risk-free investments...
...stock-market analysts are waiting for a catalyst. Tsuyoshi Nomaguchi, strategist at Daiwa Securities in Tokyo, says Japan's stocks are not comparatively cheap but are in the "attractive zone," and once recovery measures in the U.S. take effect in the middle of 2009, Japan's stock prices will rise on anticipation of economic growth. "Japan is falling behind [other nations] in implementing political measures on the economy. Waiting for the recovery of the U.S. might be the only way for now," he says...
...inventory of the familiar American virtues into the fabric of his urgent priorities. "In the 21st century," he said, "security and prosperity at home depend on the expansion of liberty abroad." This was one more formulation of Bush's central philosophy, which he said is threatened by the rise of an isolationist and protectionist mood. "If America does not lead the cause of freedom," he continued, "that cause will...
...laugh at their accents, mock their leaders, and even ban their fries from the Congressional menu without getting much of a rise from the French. But start messing with their beloved cheeses, as the U.S. has now done, and the famous Gallic shrug will rapidly give way to outraged shouts of protest...