Word: default
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Partly by default, perhaps, Americans now put more trust in themselves than in authority figures. In the 1994 Monitor survey, 80% expressed strong confidence in their own abilities, up 8 points from the previous year. The new measure of success, a growing majority declared, is being in control of their lives. Says Roger Conner, a Washington lobbyist for community organizations: ``Responsibility is the key word for the '90s.'' For better and for worse, that renewed self-reliance is reshaping the way Americans educate their children, protect their families, invest their savings, run their communities, maintain their health and view their...
That's fine when it comes to planting trees, but many American families and businesses are being forced to privatize security and sanitation by default. Community associations, ranging from small condominiums to sprawling planned communities, have grown from 10,000 in 1970 to 150,000 in 1993 and now include nearly 1 out of every 8 Americans. ``It's the fastest-growing form of local government,'' says William Eggers, who conducts an annual study of privatization in the U.S. ``People are saying that if the government can't protect them anymore or keep their streets clean, then they are going...
...generation, it needs to set its sights on the neediest cases. Otherwise, the Social Security fund will be bankrupt before this generation gets to collect. People in the work force will more than make up their Social Security with private savings--an asset on which the government can't default...
...holders around the country had more than the Orange County disaster to worry about. Greenspan's strong hint last week that the Federal Reserve will continue to push up interest rates heightened worries that more governments with overleveraged portfolios heavily based on interest-rate bets could be forced to default. Already this year, derivatives have produced a bitter legacy: such disparate groups as the State of Florida, the University of Minnesota and a Shoshone Indian tribe have reported financial hits from these risky securities. "I think there will be more ((crises)) coming through the pipeline," asserts Dick Larkin, who heads...
Students hesitate to say whether the mass movement into consulting reflects a general weakness in liberal arts education. But even if so many students are interested in consulting out of default, Cosentino says this is not a big problem...