Word: crash
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Dates: during 1980-1989
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...stock-market crash was a dramatic test not only of the world's financial institutions but of the world press as well. The dizzying swiftness of the collapse, its global dimension, the complexity of the underlying economic issues -- everything about it challenged journalism's ability to distill meaning out of fast-breaking news. So I am gratified to report that TIME's coverage of Black Monday has earned a John Hancock Award for Excellence, one of the most respected U.S. prizes for business and financial journalism. The citation lauded "The Crash," our Nov. 2, 1987, package of cover stories...
Nuke is a natural. He fathoms not the ontological complexity of his own best pitches: "God, that was beautiful. What'd I do?" Crash Davis (Kevin Costner) is quite another species of ballplayer, the kind cursed with self-awareness. All that thinking has made him a journeyman catcher with a decade-long career bouncing through the minors like a Baltimore chop on Astroturf. Now Crash must baby-sit Nuke into maturity, teach him to connive a little in the game's moral geometry. "Strikeouts are boring. They're fascist," Crash tells Nuke. "Throw some ground balls; it's more democratic...
...economic compasses may be poorly constructed as well. The index of leading economic indicators, a compilation of statistics designed to predict the direction of the economy, is frequently derided as the "index of misleading economic indicators" because of its uneven forecasting record. After last October's stock-market crash, the index declined for three consecutive months -- normally a strong sign that a recession is on the way. An upward revision in the December figure, however, broke the downward streak, and fears of a recession evaporated...
...disengaged as people seemed to be from the crash's causes, they were equally disengaged from its consequences. This was not Black Monday all over again. It would not lead to bread lines, or people diving out of buildings. Capitalism would not come up for inspection. The ordinary person on the street was more likely to snicker than despair. Although thousands of small investors were hard hit, everyone identified losses with the young investment banker and his Gold Card...
...crash was just one of many seemingly major, even cataclysmic, events which tugged at the fundamental structure of this country, and yet seemed to come from nowhere and to lead to a similarly indiscernible destination. We became, or perhaps continued to be, a nation of spectators. Like the stockbroker on The Street who watched a video display terminal handle millions of dollars, we passively watched large events pass before our eyes--perhaps commenting, as often as not, forgetting each one for the next piece of information that happened to come...