Word: dismalness
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Nothing excites Wall Street more than a hot rumor. After months of dismal economic reports, investors were ready to jump on anything that hinted that the recession was bottoming out. They got their chance last Tuesday when word spread in the stock market that the University of Michigan's early January survey of consumer sentiment would show a dramatic upturn. The results of this particular poll were greatly anticipated because it was taken shortly after the Federal Reserve slashed interest rates at the end of December. Word of the alleged rebound in consumer confidence caused the Dow Jones industrial average...
...American public-education system gets equally dismal grades when compared with much of Europe's and Japan's. Harvard's Robert Reich and other economists contend that in the next decade, the skills of a country's work force will be a major determinant of its competitiveness in the world. Some experts argue that all who qualify academically should have access to a college or a vocational-training program, even if they lack the money for tuition. Arkansas Governor Bill Clinton suggests that needy students could pay for their education by performing some kind of public service after they graduate...
...always been good business for defense contractors and arms dealers. But the Vietnam War gave rise to a dismal new enterprise: the MIA industry, which plays on the farfetched notion that there are dozens of American prisoners still being held captive in Southeast Asia or China or the former Soviet Union. The industry thrives on false leads, bogus photographs and unprovable allegations about the fate of the 2,273 U.S. servicemen still unaccounted for 17 years after the war ended. Its toxic by-products are the protracted pain of the relatives of the MIAs and continuing public confusion about...
...economy is in such dismal shape, how come Wall Street feels so good? After five consecutive daily increases, the Dow Jones industrial average closed at a record 3101.52 last week. The bull run has pushed the Dow index up 167 points, or nearly 6%, since Dec. 20. That was the day the Federal Reserve Board lowered the discount rate -- which is what the Fed charges banks for borrowing money -- a full percentage point, to a 27-year...
...Mario Cuomo's default, meanwhile, the six major Democratic candidates are looking to the Granite State as the first major showdown in what has suddenly become a wide-open scramble for their party's nomination. For now, the one clear winner is New Hampshire; after three years of dismal economic news, the locals can look forward to a quick-shot infusion of cash from the candidates and the hordes of journalists covering the contest. At least four of the Democrats will spend $530,000 apiece, the maximum allowed in the primary. On top of that, the Administration is weighing...