Word: crashes
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...question is whether something could happen in 2007 to drain away this liquidity. For most investors and policymakers, the nightmare scenario remains that of the post-1929 Depression, when a stock-market crash was followed by a spectacular wave of bank failures and a massive monetary meltdown. However, by blaming the Hungry Thirties on blunders by the Federal Reserve, we reassure ourselves that history couldn't repeat itself. Today's central bankers are smarter. But history provides an example of another liquidity crisis that went far beyond what central banks could cope with. Until the last week of July...
...like this would happen two years ago," says Dudi Soedibyo, senior editor at aviation magazine Angkasa. "The industry has grown too fast and we still do not have the systems or manpower to deal with this many airlines." Authorities in Makassar, South Sulawesi-the airport closest to the presumed crash site-were unable to pinpoint where the airplane went down. Early reports that the wreckage and a dozen survivors had been found in the remote mountains of Sulawesi-reports picked up by aviation officials and the airline itself-later proved to be based on nothing but local rumor. The last...
...slipped badly when it miscalculated how significantly the prospect of capital controls would rattle foreign investors. Nor has the aftermath of the stock market's plunge on Dec. 19 been fully digested-especially now that eight blasts have been thrown into the volatile mix. "The true effects of the crash were minimized by the holidays, which dried up [trading] volume," says Andrew Stotz, head of Thailand research at Citicorp Securities Thailand. "Now the question in January is: Will foreigners double down or reduce? I think they will reduce...
...Primitive though Morse may be, the world may want to keep it alive, if only as a backup when global communications networks crash-as they did spectacularly on Dec. 26 when an earthquake off Taiwan's coast damaged seven undersea fiber-optic cables that handle some 90% of phone calls and data traffic in the region. Millions of homes and businesses across Asia were left without Internet access, e-mail and international phone connections. Financial markets were interrupted. And those lucky enough to connect to overseas websites experienced exasperatingly sluggish data-transfer speeds. While most services have been at least...
...lunatics," he says grinning. "It was full of mad people. But now it is empty. Why not? The people outside are mad also." He slaps the driver's leg on the punchline and for a split-second I wonder whether the pair of them are laughing hard enough to crash. But then the driver guns the engine, and we flash past more ruins. "Somalis are very serious people," says Fanah...