Word: 1980s
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...years old, living in Singapore, and trading futures contracts based on the Nikkei stock index and Japanese government bonds when he got into trouble in the mid-'90s. He was anything but one of the investment banking "Masters of the Universe" made famous by Tom Wolfe in the 1980s. He was a relatively ordinary young professional on an obscure trading desk, who bet the wrong way on the Nikkei's direction; then he doubled down, trying to recoup the firm's money, and lost again. At one point in early 1995, he had half the open interest on the Nikkei...
...Dance with Iran In "Rethinking Iran," Samantha Power asserted that Washington "supported" Osama bin Laden during the 1980s [Jan. 28]. Power repeated a canard that has been pushed by numerous conspiracy theorists. As terrorism expert Peter Bergen has stated, this is a "folk myth" without a shred of evidence to support it. The 9/11 commission came to similar conclusions and noted that the CIA viewed bin Laden and his so-called Arab Afghans as "militarily insignificant" to the war against the Soviet occupation of Afghanistan. It is unfortunate that a distinguished scholar like Power decided to repeat this legend. James...
...annual number of divorces has dropped nearly a third since the early 1980s, to 16.4 for every 1,000 married women age 15 and over, but 40% to 50% of first marriages still break up. In the spirit of American ingenuity that can find a way to make a buck out of even the worst situations, a cottage industry has sprung up to help people cope with and often celebrate this passage from one part of their lives to the next. "Once divorce gets so common, the human approach is to treat it like another aspect of life," says sociologist...
...impact was far-reaching. Comedy clubs in New York City began paying their comics as well. Clubs that were springing up around the country were then forced to boost their fees too, to lure more top comics out on the road?launching the comedy-club boom of the 1980s. All of which was part of laying the groundwork for a culture in which comedians turned TV hosts help set the national agenda and have would-be Presidents as guests. Letterman and Leno may look more like management than labor these days?more Mitzi Shore than strikers. But they haven...
German unease with globalization has some justification. True, rising exports have boosted corporate profits, joblessness is declining, and the economy grew by a respectable 2.5% in 2007. But real incomes, adjusted for inflation and taxes, are as low now as at any time since the 1980s. In a recent poll, 83% of Germans reported that they had not felt the benefits of Germany's recent economic recovery, and nor had their friends or relatives. "People are losing the feeling that if the economy is doing well, we are also doing well," says Allensbach spokesman Edgar Piel. The number of Germans...