Word: scares
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...nukes didn't scare off foreign investors, the mob outrage over the U.S. missile strike last month in nearby Afghanistan certainly did. Diplomats and executives from many Western companies fled Pakistan, fearing revenge attacks by supporters of Saudi extremist Osama bin Laden, the intended target of the American raid. In the port city of Karachi, ethnic gangs armed with grenades and machine guns prowl neighborhoods hunting for enemies. Sectarian rivalry among Muslims has become so fierce that some clergymen post bodyguards at their mosques to guard against bomb throwers speeding by on motorcycles. In Karachi, kidnappings of clergymen have become...
...Currency controls aren't anathema to Westerners for nothing: They?re very vulnerable to abuse and corruption; they require massive bureacracies to regulate; and the sheer complexities of a government's implementation of them tends to scare away capital. Because Mahathir?s plan places tight limits on importers and exporters as well as Malaysians who travel abroad, it also means regulatory headaches for the governments of neighboring countries. Currency controls have traditionally resulted in stagnation and recession, and tend to move countries farther away from the reforms they will eventually need to prosper in today?s unforgiving global economy...
...Newt Scare...
...stocks cheap yet? Clearly, they're cheaper than they were two weeks ago. But are they Russian-ruble cheap? So ugly that they scare the dog? The answer depends largely on whether you believe that interest rates will fall further and corporate earnings will hold up in the face of Asia's spreading ills. A quick scan of Wall Street illustrates the debate. At Paine Webber, chief strategist Ed Kerschner holds the rosy view that stocks "have not been this cheap since October 1990." Chief guru Abby Cohen at Goldman Sachs similarly says, "Stocks are trading at undervalued levels...
...Democratic primary, his drawbacks in a general election are obvious. While most of his positions (pro-choice, pro-environment) put him on the liberal end of the political spectrum, his crude, combative style has largely alienated the state's traditional party Pooh-Bahs and threatens to scare upscale Democrats into Engler's camp. Some Dems, though, see a silver lining in Fieger's ascent: his in-your-face campaign style could lure a fresh wave of young voters, as well as win back blue-collar constituents and reinvigorate African-American voters outraged by Engler's conservative, pro-business policies. Fieger...