Word: dooms
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...brief period last week it looked ominously as if the bottom were about to drop out of stock markets around the world. But looming doom proved a sucker's bet. In one of the dizziest roller-coaster rides of recent times, stock markets in Tokyo, London, New York and elsewhere slumped and surged and careered wildly down and up. Yet when the dust settled, share prices in most cases were pretty much back to where they were before the week began, and in New York, they were up substantially. The Dow Jones industrial average of 30 of Wall Street...
Suspicion of impending doom because of the elimination of species stems from the Ehrlichs' first and constantly invoked example, which, sad to say, is laughable. "Imagine that, just before you are about to board a jet plane, you see a man busily prying rivets out of its wings. As you rush in a panic back down the gangplank, he calls out, "Don't worry, I've taken a lot of rivets out already and the wing hasn't fallen off yet!" This scenario is supposed to be analagous to losing a few more species: One more might not matter...
...most recent gloom-and-doom predictions came from the Urban Institute in Washington. It was built on groundbreaking studies conducted by Martin S. Feldstein '61, professor of Economics and director of the National Bureau of Economic Research. Institute economists calculated that individual donations to institutions should drop many billions of dollars lower between 1981 and 1984 than they might have been under the old tax laws...
...spending buildup, will more than offset the Administration's deep spending cuts elsewhere in the budget, and thus increase the need for federal borrowing. Interest-rate pessimists like investment bank Economists Henry Kaufman of Salomon Bros, and Albert Wojnilower of First Boston Corp., who have been nicknamed Dr. Doom and Dr. Gloom along Wall Street, assert that the prime rate could ratchet up at least above its peak of 21.5% and possibly as high as 25% before the end of the year...
...Right, its negative campaign claimed only one victim: the Right itself. Giscardists and Jacques Chirac's Gaullists painted a picture of doom for Socialist France that was more forgery than masterpiece. The electorate did not buy it. The left, said the voters last month, has earned a legitimate chance to govern. Let us see what happens...