Word: dive
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...this brightly colored universe -- or at least I'm supposed to be. By pointing my index finger and cocking my thumb, I can swoop down among the skyscrapers. I can wheel by the Space Needle, close enough to hear the clatter of silverware in its restaurant. I can dive beneath the deep- blue surface of the sound, go swimming with the whale and bask in the staccato chatter of its birdlike mating call...
...Friday markets generally steadied as traders and investors began to suspect that the earlier nose dive had been an overreaction: nothing so absolutely awful had happened yet. In Manhattan the Dow Jones industrial average climbed 49 points to a close of 2532.92 -- still down 112 points, or 4.2%, for the week and more than 460 points, or 16%, below its July 16 high of just under 3000. But no one could be sure that the worst was over. Some markets, notably bonds, kept right on going down. More important, the threat of war has not begun to fade...
Tearing out of the first dip, they reel from the force of 2.7 Gs -- nearly the gravity load that hits shuttle astronauts on their climb to orbit -- but only for an instant. Then they are shooting skyward for 100 ft., only to dive abruptly again, down the second of 21 more hills. Frightening twists and turns dot the nearly one-mile course, and disaster seems inevitable as the train hurtles back and forth through its creaking wood supports. Finally, the sudden squeal of brakes in the station signals a merciful finish, and the stunned but happy passengers scramble...
...cracks in Bush's armor are only of the hairline variety. A TIME/ CNN poll, conducted last week by Yankelovich Clancy Shulman, gave him a robust job-approval rate of 61%. But that is down 9 points since April. More troubling for the White House is a dive in confidence in Bush's ability to maintain prosperity. In February's survey, 60% of Americans described the economy as very good or fairly good. That figure dipped to 49% last week. In the earlier poll, respondents liked Bush's handling of the economy, 55% to 36%. The new figures show...
Bush officials dismiss such fearmongering, saying the market is protected from the sort of dive it took in 1987. And despite the cries of pain, several generals in Wall Street's jihad against Darman and Brady acknowledged that they could live with a smaller increase, perhaps two-thirds of 1% of a - transaction's value, which would raise $2 billion to $3 billion a year. Wall Street knows that the only thing worse than a tax on trading is a sick economy...