Word: centralizes
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Dates: during 1990-1999
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...Angeles sees nearly twice as many twisters as Oklahoma City, traditionally regarded as Tornado Central! Once, 100 million mice descended on Taft, Calif. (pop. 5,000)! In 1995 L.A. became "the nation's capital of racial (539 crimes) and sexual orientation (338 crimes) violence"! And the recent rout of fires, riots and earthquakes should, by statistical rights, only increase. Furiously researched and slashingly argued, this book is a 30-bell alarm by L.A. obsessive Davis (City of Quartz), who contends that most of the "acts of God" that have wrought such destruction in that city are, in fact, the results...
...billion markdown is small change compared with the devastation that the Russian collapse inflicted on central banks and stock markets in other countries, even those seemingly out of harm's way. Venezuelans stumbled through a valiant, painful defense of their bond market, Brazilians scrambled to save their currency, and Americans watched a nervous stock market plummet, pause and plummet again. Russia's slide was a reminder that every investment is at heart a bet on the future. Last week the future looked awful...
...chaos started two weeks ago, when the Yeltsin government effectively devalued the Russian ruble by about 34%. To some folks, this limited devaluation appeared to be a wise move that might strengthen Russia's exhausted central bank. Since the Russian economy had been quietly improving last year, a small relaxation of the currency could have helped boost demand for Russian exports, which would have pushed the recovery along. From an Economics 101 perspective, the approach was a sensible--if risky--way to help Russia through a tough patch. Even Soros argued that a small devaluation, linked with other measures...
...talk. The Administration has yet to prove it can deliver. Most of bin Laden's hidden finances have been impossible to find. Pentagon officials admit they're not flush with big fat targets in bin Laden's network, which is a collection of highly mobile terror cells with no central headquarters. Sending in commandos to snatch him in Afghanistan would be too bloody an operation, and the country's ruling Taliban is so far in no mood to turn him over...
...bird! It's a three-stage missile! No, it's a satellite. In a highly dubious twist to the ongoing military tension between North Korea and Japan, the Korean Central News Agency now claims that the ballistic rocket fired five days ago was not a test -- but the launching of Pyongyang's very own Sputnik. "Our scientists and technicians have succeeded in launching the first artificial satellite aboard a multi-stage rocket," KCNA said Friday. Not only that, but this little orbital wonder is apparently transmitting "the song of General Marshal Kim Jong Il" across the globe at this very...