Word: downturn
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...certainly think there is a severe business slump in our future, and I think what is so different this time is the recklessness of financial practices. That recklessness, if this does not sound too Calvinistic, will come to bear in the downturn, making it deeper than it otherwise would be. And the medium of that will be a shrinkage in the availability of credit. Just as the advent of ever longer maturities in car loans, for example, helped prolong and deepen the expansion, so will shrinkage in the terms of credit -- whether they be in car loans or mortgages...
Some economists fear that a sharp downturn could have a snowballing effect because of the high levels of debt the U.S. piled up during the 1980s and the shakiness of the financial system. Leveraged by buyouts and other takeover deals, many companies are already hard pressed to make their payments. At the same time, banks and insurance firms are tottering beneath huge portfolios of bad real estate mortgages...
Clapprood cited the beneficial effects of welfare on her own family as an example of why the state should not cut such spending even though its economy is on the downturn...
Milken had profitably discovered that S&Ls could use junk bonds in two ways: to borrow money for expansion and to invest money for a high rate of return. M.D.C.'s Mizel, hard pressed by the economic downturn in Denver and kept afloat by insider swaps with Silverado, met the junk-bond king in Manhattan and became Milken's enthusiastic client. So too did the influential Norman Brownstein, an M.D.C. board member and Mizel's attorney, who lobbied in Washington in favor of the use of junk bonds...
...addition to their mistreatment of Silber, the staff position ignores the most important issues in this campaign. Instead of addressing the state's most devastating economic downturn in years, the staff position is preoccupied with the environment, consumer issues and abortion rights--all of which merit attention, but which are nowhere near as pressing as the state's current fiscal crisis. A more thorough analysis of the candidates' plans to revive the sinking economy is conspicuously absent. Perhaps the inhabitants of the Ivory Tower have forgotten that thousands of people stand in unemployment lines while we attend classes...