Word: 90s
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Dates: during 1990-1999
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...wages that foreign companies pay impoverished Cuban workers (who make an average $15 a month) ends up in government coffers. Cuba's post-Soviet economy has made a comeback since it crashed in 1993, but the country has garnered less than $3 billion in foreign investment in the '90s--largely because Castro remains ideologically opposed to opening more widely to private capital. "So far, he's invited us in only to assure his survival, not his country's prosperity," says a frustrated foreign investor...
...zero-tolerance approach ends the guesswork. In the early '90s, schools began adopting one-strike-and-you're-out policies for kids who secreted weapons or drugs on campus. The President gave zero tolerance a big push when he signed a 1994 law requiring one-year suspension for students who take guns to school. But by definition, zero tolerance erases distinctions among student offenses. Hence the national crackdown on Alka-Seltzer. Since 1996, schools in four states have suspended at least 20 children for possession of the fizzy medicine...
...Nostradamus were alive today, his job would be safe, at least from the misguided futurists on Wall Street. Exhibit A is a gutsy little tome penned 10 years ago called A View from the Year 2000. As a device to forecast the '90s, Shearson Lehman Hutton looked back on a decade that hadn't yet happened. The first thing you notice in the report, though, isn't some way-out prediction--it's that the names Shearson and Hutton are about as familiar to investors today as were Dell and Cisco to analysts a decade ago--which...
...years, as you know. But now that the millennium is actually upon us, examining these old prophecies can help drive home some fundamentals. Besides, it's fun. So before I get to the lessons, allow me a couple of shots at Wall Street's vision of the '90s, circa...
...Many individuals didn't participate in the stock market's rise, preferring the income streams of CDs," the report predicted of the '90s. That's what you call missing the dominant trend of our time. Half of all Americans came to own stocks in the '90s, an all-time high. Here's another gem: "The explosive coming of age of Japanese consumers, central European producers and Latin American governments lowered U.S. successes to second-tier status," the report reads. Well, whiff again. That scenario may develop in the next 10 years, but it doesn't come close to describing...