Word: crashing
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...considering the hundreds of billions of dollars spent on the war in Iraq or the $1.2 trillion that vanished in the stock market crash last Tuesday, the $12 billion that would have gone into the Texas collider would have been well worth the investment. Plus, by the time the project was cancelled, the costs just to dismantle the thing ran past $1 billion...
...underlying cause of the Great Depression - as Milton Friedman and Anna Jacobson Schwartz argued in their seminal book A Monetary History of the United States: 1867-1960, published in 1963 - was not the stock-market crash but a "great contraction" of credit due to an epidemic of bank failures...
...credit crunch had surfaced several months before the stock-market crash, when commercial banks with combined deposits of more than $80 million suspended payments. It reached critical mass in late 1930, when 608 banks failed - among them the Bank of the United States, which accounted for about a third of the total deposits lost. (The failure of merger talks that might have saved the bank was another critical moment in the history of the Depression...
...predicting a wave of bad debts will crash the Indian financial system and economy. That's because commerce on the subcontinent still runs mostly on cash. Dheeraj Dikshit, the head of consumer assets in India for U.K.-based bank HSBC, reckons that credit cards are used for only about 2% of all retail transactions. But cash-strapped consumers will still hurt economic growth. Many spend half their salary on car and house payments and will be forced to cut discretionary spending. Some sectors are already getting hurt. New car sales - 80% of which are financed - are slowing. Tata Motors reported...
...campaign trail. Since Obama selected him in late August, he has affronted Ohio voters with disapproving comments about building new coal plants; raised eyebrows by remarking how "attractive" Palin is; made a widely ridiculed remark about President Franklin Roosevelt addressing the nation on television during the 1929 stock market crash (Roosevelt, of course, was not President then, and TV didn't even exist); contradicted his own running mate on the wisdom of the government bailout of AIG; colorfully confronted Obama's stance on gun laws; and objected to his own campaign's negative television advertisement disparaging John McCain's computer...