Word: baumohl
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...YORK: For the Russian economy, it's all over but the doomsday, and that's what traders prepared for Thursday by pushing the Dow down 257 points -- and the NASDAQ 81 -- by the close of trading. "The Russian economy is in total collapse," says TIME business reporter Bernard Baumohl, "and although U.S. traders have very little direct exposure to it, they're very nervous about what could happen to Europe, Asia and Latin America if the political system goes with...
...YORK: The Kremlin is filling up with familiar faces, and Wall Street is nervous. You should be too. "I'd be very wary of doing anything in the stock market this week," says TIME business reporter Bernard Baumohl. "Everyone's very, very nervous about Russia -- expect the markets to stabilize at best, and possibly show a net loss...
...chilling prospect of the crisis toppling Yeltsin's government and bringing to power a host of ex-Communists with itchy trigger fingers. It's not yet time to vacuum out the ol' fallout shelter -- but if you're looking for some kind of refuge from this economic Chernobyl, Baumohl recommends bonds. "Foreign markets are getting hit hard, and foreign investors are going to look at U.S. Treasury bonds as a safe place...
...economy has slammed on the brakes, growing only 1.4 percent in the April-June quarter. But if it doesn't worry Alan Greenspan, it shouldn't worry you. "This is exactly what economists were hoping for: The beginnings of a soft landing," says TIME business reporter Bernard Baumohl. "The Asian crisis is starting to hit us, and a slowdown was inevitable. This one, especially balanced with the abnormally high first quarter...
...strike, should spare the Fed any worries about inflation or having to raise interest rates. But with the July effects of the just-settled strike counting toward next quarter, experts are predicting more of the same for July-September. Is it time to start crying recession? Baumohl doubts it. "So many other indicators, such as consumer spending and new equipment purchasing, are still strong. There isn't much out there that's alarming." If a recession does come, it will come unannounced...