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...presidency, he will need to be elected before then for a second five-year term by the sitting national and provincial assemblies, before they are dissolved for parliamentary polls that can be held as late as January 2008. But the Supreme Court can block Musharraf's bid to remain in power by enforcing a constitutional ban on elected officials from holding military rank. (Retired soldiers must wait two years before standing for office.) Musharraf previously got around the contravention by getting an exemption from tame judges. That exemption expires when his term does, and the Supreme Court, which resents...

Author: /time Magazine | Title: Pakistan's Drama Unfolds | 9/13/2007 | See Source »

...neighbors an average of $64 billion in military spending and lost trade, and can spread dysfunction far beyond its borders (for a prime example of the latter, see Afghanistan). These arguments impel Collier to a sobering conclusion: without radical international intervention, the world's poorest states are likely to remain trapped in a cycle of civil war and near-zero economic growth for decades...

Author: /time Magazine | Title: Now for the Bad News | 9/13/2007 | See Source »

...letter away for now, back in its tattered envelope, where it will probably remain for the next 100 years, until some distant descendant has it appraised on Antiques Roadshow. However history judges this presidency, I'm confident it will be kind to me. "This was my great-great-grandfather's," that descendant will say to some bow-tied document dealer. "He was apparently a man of humor, style and compassion, the Shakespeare...

Author: /time Magazine | Title: Pen Pal | 9/13/2007 | See Source »

...epic decline in prices. "People think that home prices go up a lot," he says. "But home prices in 1990 were at about the same level as in 1890." Shiller allows that the scarcity of property near the coasts might mean prices there will remain high, but then notes, "We can't make any more of the land, but we can build huge high-rises on the beach...

Author: /time Magazine | Title: Coping With a Real-Estate Bust | 9/13/2007 | See Source »

...most immediate threat to Musharraf comes from the Supreme Court, which can block his bid to remain in power by enforcing a constitutional ban on elected officials holding military rank. Musharraf previously got around that by obtaining an exemption from tame judges. That exemption expires on Nov. 15, and Supreme Court justices, who resent the general for trying to sack an independent-minded top judge earlier this year, are unlikely to give him another. If Musharraf sheds his uniform, they can block him with another constitutional provision: retired soldiers must wait two years before standing for office...

Author: /time Magazine | Title: Is This Musharraf's Final Chapter? | 9/13/2007 | See Source »

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