Word: contagions
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Dates: during 2000-2009
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...just 31%. Once esteemed as a beacon of liberty and a defender of Europe against the Soviet Union, the U.S. now faces constant criticism for everything from its lack of action on global warming to its faith in unfettered capitalism, which has lately led to the spread of economic contagion from American banks to the rest of the world. But most damaging to America's global reputation has been the invasion of Iraq, which many Europeans viewed as a dangerous misadventure from the start. "There's concern that America goes its own way rather than listening to its allies...
...Goulletquer, head of fixed income markets for Calyon, agrees that rescue plans in the U.S. and Europe have "created a complete menu to address the multiple areas of troubles threatening the banking system," thus staving off what he says would have been a "global depression." Still, he says the contagion and mutation of the crisis from one financial activity to others makes it impossible to know what to expect in macro terms in the medium run. Indeed, Paul Tsang, senior vice president at Polaris Securities in Hong Kong, says he expects the rebound to continue as investors wait...
...Last week, the Big Fear gripped Silicon Valley big time. The always-optimistic entrepreneurs who thrive out here came down with a major case of the Pessimism Flu. The contagion was traced to a special meeting called by Sequoia Capital - the blue-chip venture firm - whose brains and money are behind just about any start-up of consequence. The message the VCs gave their young start-ups? Get profitable...
Friday's international contagion of bearishness was inspired by Thursday's sell-off frenzy in New York City, which drove the Dow Jones index down 7% and neatly erased $872 billion of value from company and shareholder books. Fears that Wall Street would suffer another battering session Friday proved founded, as the Dow traded sharply down in the morning. Observers short on rational explanations for the nosedive could find solace only in the calendar: at least trading ceases on weekends...
...Instead, worries are growing that a severe economic downturn in the U.S. and Europe could hurt export-driven Asian economies more than originally thought. Turmoil in Europe as governments scramble to cobble together their own bailout packages has convinced Asia that the contagion will spread far from Wall Street. "We felt pretty good that our economies are stronger," says Song Seng Wun, an economist at CIMB-GK Research in Singapore. "Problems seemed to be other people's problems." But recent events "have made us realize that we aren't entirely safe. It looks like the problem might be closer...