Word: boom
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Dates: during 1990-1999
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...much will you have to pay in higher taxes to finance Social Security benefits for the Baby Boom generation? If you think this is an unimportant question for a 20-year-old Harvard student, think again. Without any changes, Social Security benefits are projected to exceed payroll tax revenues by approximately $160 trillion from now until 2075. To maintain the exiting system, our generation will have to bear a tremendous burden in the form of higher taxes during our working years and reduced benefits in our retirement years. In fact, economists estimate payroll taxes may have to rise at least...
...that a money market will fail and threaten the underpinnings of the system," says Cone of Fidelity Investments. This new electronic world challenges everything we thought we knew about finance, but maybe not what we know about economics. Will a high-speed global economy put an end to the boom and bust of the business cycle, or will it create dangerous interlinkages across borders, where a bad year for the Mexican economy, say, might accidentally trigger a global depression...
With the fitness boom of the 1980s, healthy living became associated with noticeable muscles and no-pain, no-gain workouts. But if anything ever represented the Zen '90s, it's Pilates and the less-is-more body. "I used to look like Sylvester Stallone. People stared," clucks actress Sonia Braga, who's now keeping company with Pilates devotees like Madonna, Vanessa Williams and Sharon Stone. "What Pilates does is strengthen and elongate." Practitioners claim they double-cross genetics, getting fabulous bodies and feeling better with whiz-bang workouts that fit their hectic schedules. The number of Pilates studios has grown...
...there was none. The notion of giving individuals the power to invest at least part of their payroll taxes--in stocks, bonds or another savings plan they might choose--raised hardly a complaint in a week when the Dow closed above 9000 for the first time. The stock-market boom has, it seems, turned Americans into a nation of risk takers. In a TIME/CNN poll last week, 60% of those surveyed said they would like to play the market with some of their Social Security taxes; and if they could, 80% said they and not Washington should control where...
...living in peaceful times, but short, temporary bursts of tranquillity have followed all the major wars of this century--think of the Roaring Twenties and the boom years of the 1950s. Our challenge now is to ensure that the current era of peace and prosperity continues long after the close of the cold war. It will demand as activist an agenda as that long fight did. The next 100 years will bubble with questions that are as difficult as the ones we have faced in this century. Perhaps, because of their incredible subtlety, these questions are even more difficult...