Word: boom
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Dates: during 2000-2009
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Some problems that were ignored in the boom days are now coming back in the form of nightmares. In the good times, no one paid much attention to the fact that the gulf countries lack the legal structures for modern finance. Only Bahrain and Kuwait have well-developed commercial laws, but neither has a banking code. The United Arab Emirates is only now introducing a bankruptcy...
...human rights" as full employment and free medical care, which the U.S. ignores. In addition, the Soviet press has lately been playing up such alleged U.S. violations of human rights as the Move bombing in Philadelphia. Sample fulmination: according to Pravda, "the United States is going through a 'prison boom.' Camps for dissidents are hastily being built there." The Soviets may even try to counter American allegations of human rights abuse with propagandistic bombast about the purported torture of fickle Soviet Defector Vitaly Yurchenko...
Amid Wall Street's glee, though, some investors are sounding alarms. They point out that a large part of the stock-market gain has been caused by the boom in mergers and leveraged buyouts. The massive stock purchases involved in those deals push up prices in general, but the buying is financed by huge loans that could shake the banking system if they go sour. Says Robert Salomon, director of stock research at the Salomon Bros, investment firm: "All this takeover activity is fine and dandy, but let's not forget that we are swapping equity for massive amounts...
...Soviet TV that at least a few viewers must be convinced that all of New York City consists of such unfortunates. Recalling the concentration camps of the Nazi era, a professor serving as a commentator for one show tells his audience, "The U.S. is going through a prison boom; camps for dissidents are hastily being built there...
...acre-feet, roughly one-fifth of the Colorado's flow. Because it lacked transporting capacity, however, the state has used less than half of its legal entitlement, allowing California to take much of the remainder. The CAP's new flow will thus put pressure on Southern California, particularly the booming but arid San Diego area, to find additional sources of supply. While more water from Northern California's High Sierra may be available, the West's continued population boom and unpredictable circumstances like drought could lead to a savage squeeze. Says Colorado Governor Dick Lamm: "We're playing a climatic...