Word: downturn
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...market leading consumers to act in a way that may not be rational," he says. "Consumers check their portfolios and see gains, and spend money based on those gains before cashing in their stocks." That's the inflation side of the picture; there's also danger of an economic downturn caused by a stock market reversal. "If there's a correction," says Baumohl, "all of a sudden these consumers would abruptly stop spending, and that could send us into a recession." While the Dow Jones dropped slightly on news of Greenspan's report, the tech-heavy NASDAQ saw steady gains...
...cushion that could have prevented a plummeting economy from suffering a dead-cat bounce. Gibney is a little more optimistic, and points to a softer landing. "The underlying strength of this economy makes it difficult to see how there could be a major crash, or any other extreme downturn," he says...
...that no one worries about the potentially disastrous results of unchecked financial exuberance - least of all Greenspan, who has been raising interest rates steadily to prevent things from overheating. And, in fact, the modest increases of one half or one quarter percent are a constant reminder that an eventual downturn is not only a possibility but a certainty. "Everything that I've read suggests the economy will cool off this year," says TIME economics writer Frank Gibney...
...that the challenges of meeting tough demands from Big Business customers, avoiding the pitfalls of e-commerce and financing a fledgling firm without losing control, and you've got a climate for small businesses that is at least as challenging, and sometimes as fatal, as a sharp business downturn...
With the stock market still booming, University officials are reluctant to slow the pace of their fundraising, fearing an eventual economic downturn that will put a pinch on Harvard's finances and fund drives...