Word: boom
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Dates: during 1990-1999
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There are two schools of thought about the deejay-rock boom. The first school holds that deejays in rock bands are part of a new multidimensional wave of artists who, instead of composing with just notes, compose with whole chunks of songs. The second school of thought holds that people in the first school are what's wrong with education today. Says Jim Tremayne, editor of DJ Times: "It seems to me some rock bands are just trying to cultivate an air of coolness with the kids...
Genetic modification, which helps make crops impervious to insects and the elements, is a boom industry. Globally, sales of the technology rose from $75 million in 1995 to $1.5 billion in 1998. GM food is much more regulated in Europe, where the E.U., unlike the U.S., requires labels on products containing genetically modified produce. In all the current furor, however, the FDA on Monday announced a series of unusual public meetings to be held this fall in Chicago, Washington and Oakland to explain how it determines the safety of GM foods and to guage public opinion on food-safety policy...
...Internet economy last year surpassed $300 billion, according to a University of Texas study, and experts say that number could double in 1999. The U.S. economy is so enormous that we are just beginning to see the effects of the Internet--lower inflation, more productivity, faster growth and a boom longer than anyone had expected, just a few months shy of being the longest in U.S. history. Profound as these effects are, they are only a foretaste of what could change the economy, and the way business is conducted, almost beyond recognition...
...this money coming from? True, we're living in a time of record employment, rising wages, a bloated stock market and a flock of newly hatched dot.com millionaires. But even these indicators of prosperity don't add up to the consumer-spending spree that characterizes the current U.S. economic boom. There's something else...
...last deals to survive the 1986 tax reform, which snuffed out breaks on a wide range of consumer loans. The reform left home-equity loans in a virtual monopoly position that has in turn ignited a lending boom. By next year the total of outstanding home-equity loans--after subtracting repayments--is expected to hit $500 billion, vs. $34 billion in 1988. New borrowings have gone as high as $268 billion a year...