Word: boom
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Dates: during 1980-1989
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During the past year, convention business has flourished, school desegregation has proceeded peacefully, and a modest construction boom has begun. For the first time in years, the Cleveland Browns even had a shot at the Super Bowl. Most impressive of all, the city last month finally dug itself out of default...
...compelled to "beat the economy about the head" before people believe that the bank is serious about controlling the money supply. Eckstein jokingly asked whether the Federal Reserve's vacillating policy of first tight money and then loose money was creating "the six-month business cycle," alternating between boom and bust...
...Hart legislation, called the Energy Impact and Assistance Bill, proposed granting loans to energy boom towns to build the schools, hospitals and other facilities needed to accommodate new settlers. The bill was finally passed by the Senate this year, but was voted down in the House; Hart sees little chance of winning the measure's passage in 1981. Says he: "At issue in the Eastern opposition to the bill is the contention that small growing Western towns don't need help while large decaying Eastern cities do. At a time when we are trying to reduce the size...
...past, a speculative boom in new issues has always been followed by a crash. In the late 1960s investors rushed to buy electronics stocks, and in the early 1970s new computer firms were the rage. Both markets ultimately collapsed. Recalls Stanley Pratt of Venture Capital Journal: "Then two guys in a phone booth could raise several million dollars just by coming up with an idea, putting the suffix 'onics' on the end of it and making it public...
Generational hubris has always been especially robust in the children of the postwar baby boom; their sheer numbers gave many of them a swelling sense of their own inevitability, their unique moral Tightness. Everything they did was done in the incandescent certainty, the grand optical illusion, that it had never, ever been tried or felt before. No doubt as the baby boomers pass on through life, their millennial pretensions will do for middle age and old age what they did for youth in the '60s: in 35 years will come geriatric chic, revolution in the nursing homes. But just...