Word: barriere
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Although stock prices remain stuck a bit below 1,000 on the Dow Jones industrial average, most Wall Streeters still think it is only a matter of time before the barrier crumbles and the U.S. economy continues its comeback. In back-and-forth trading last week the Dow average closed at 972.92, about even with the previous week's close. Simultaneously, however, the nation got some of the best news yet about prices and jobs. The wholesale price index in February dropped .5%; it was the fourth straight month in which that key indicator has either held steady...
Although the market is an important leading indicator, the price break had nothing to do with the state of the economy. Investors sold because they expected other investors to sell. In the minds of many traders, 1,000 has become a formidable psychological barrier; the market turned down in early 1966 just below that mark, and in early 1973 after going briefly higher. They expected a wave of selling when the average got near that point, so they sold to take profits-and the prophecy became self-fulfilling. Some further decline would not be surprising after the market...
...raised above the recently extended $560 million ceiling. It would also further reduce power output by 10% a year unless two-thirds of the state's legislators endorsed waste-disposal and safety measures. Many believe that the two-thirds approval required in the legislature constitutes an impassable barrier...
...many Episcopalians, the language of their rituals is not a barrier to a meaningful relationship with God, but a beautiful, expressive key to that relationship. Brevity and blandness are not better; I want God as my guide...
Immediately, problems surfaced in the form of the "Berlin Wall," an insurmountable barrier to communication with the President guarded by the ferocious watchdog team of John Ehrlichmann and H.R. Haldeman, whom Mollenhoff characterized as "inexperienced meddlers pulling political levers." Mollenhoff's unsuccessful early attempts to gain access to the Oval Office foreshadowed his later inability to implement any real reforms within the executive branch. "I had an opportunity from the first to view the real problems: excessive secrecy and an extreme political motivation that dominated their thinking," Mollenhoff said. These obsessions and the Nixon team's unshakeable belief in executive...