Word: bustingly
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...future but also about the past. Every Sunday at Moscow's newly reopened Novodevichy Cemetery, hundreds of curious Soviets wander among the gravestones, searching for a missing piece of history. The quest usually takes them to the jagged, black-and-white monument to Nikita Khrushchev or the haunting marble bust of Stalin's second wife, Nadezhda Alliluyeva (the dictator is buried beside the Kremlin Wall). Since Gorbachev urged historians to fill in the "blank spaces" of the past, the pain of the Stalinist years is no longer a taboo topic...
...Prime Minister Margaret Thatcher's ambitious program to put Britain's vast array of state-owned businesses back into private hands. But when some 2.2 billion government shares in British Petroleum -- about 31.5% of the company's equity -- came up for sale last week, the result was an enormous bust. In the wake of Black Monday, BP shares already on the market were trading well below the $5.68-a-share issue price of the new offering, and investors therefore shunned the new $12.2 billion flotation. Underwriters were stuck with millions of unsold shares, and could face losses totaling $1.7 billion...
...many financial experts suggest, sooner or later the markets can expect the real crash. How it could be much worse than Black Monday is as difficult to imagine as was Black Monday itself just days before. But the world had better hope it never finds out what that ultimate bust would be like...
...stock-market crash was a relatively mild foretaste of what could happen if they pull their money out. The nation would then face a grim choice of financing the deficit by ruinous printing-press inflation or a sudden, brutal cutback in spending that might trigger a real economic bust...
French President Francois Mitterrand, speaking at a financial forum Thursday, complained about a "world that constantly moves the carpet under your feet, pulling it out and threatening to trip you up." The market bust, he said, "is the disorder of a non-system. There is no system. It has been broken." Others left no doubt about who must bear responsibility for fixing it. Says a senior Canadian government economist: "Everyone, all around the world, has been keeping an eye on the U.S. economy and wondering how long it could continue to survive without dealing with things like its trade imbalance...