Word: boom
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Dates: during 1990-1999
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...started now. Whether you're in the peak earning years of your 50s or well into retirement and trying to make your money last, it helps to understand that the old rules of saving and planning for retirement have been thrown out the window by America's happy boom in longevity. It's still true, as New York City-based financial planner Jonathan Satovsky says, that you should "save like mad as early as possible." But that's where the similarities end between your retirement plan and your parents'. If you quit work at 65, you could be retired...
...conventional wisdom is that the economic anxiety now gripping much of the world has its roots in the collapse of Thailand's currency, the baht, in July 1997, after investors discovered that Thailand's economic boom was built on a base as solid as a bowl of pad Thai noodles. But the roots actually reach back further, to Black Monday, Oct. 19, 1987, when the Dow Jones industrial average shed 22.6% of its value in a single day. The market, of course, rebounded--and how. But at the time, professional investors thought U.S. stocks were due for a decade...
...class technology and know-how. But in cities such as Jakarta or Kuala Lumpur or Bangkok, there aren't a whole lot of world-class companies. And as share prices of those rare firms rose, investors poured money into other, less well-run companies. At the height of the boom, in 1996, office space in Bangkok was commanding First World rents; in Jakarta supermodels Claudia Schiffer and Naomi Campbell inaugurated a Fashion Cafe, and in Kuala Lumpur the world's tallest building opened for business...
...help resolve the riddle of imperfect markets, the committee has spent six years working on an experiment. It's called the U.S. economy. The current boom is as much a part of the committee's legacy as is its battle to stem global turmoil. It was Rubin--via the 1993 deficit-reduction plan--who navigated the Clinton Administration into budgetary agreements that helped create the first surplus in 29 years. This fiscal responsibility helped lower interest rates, which kicked off a surge in business spending. Greenspan, who dovetailed his own monetary policy with those goals, let the economy build...
...blue: Robert Johnson selling his soul to the devil at the crossroads. Then the jazz age: Louis Armstrong, Duke Ellington and, later on, Benny Goodman and "Strange fruit hanging from the poplar trees." Midcentury, things start to rock with Chuck Berry, "Wop-bop-a-loo-bop a-lop bam boom!" the Beatles, Aretha Franklin, "a hard rain's a-gonna fall," Bob Marley, Stevie Wonder. It might be better to forget the '80s--the posturing heavy-metal bands, Debbie Gibson, "Let's get physical--physical," the guy with the haircut in Flock of Seagulls. Perhaps the remembered sounds of R.E.M...