Word: downturned
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...city looking to get a slice of pizza or dance in a nightclub - that has made every single day a roll of the dice with death. Carnage on the streets has become a daily affair, and an economy that boomed in the 1990s has ground to a halt (a downturn sparked by the global high-tech blowout, but exacerbated by the crisis in confidence). Tourism is down by half, and likely to fall further. Why would the tourists visit when even some of the locals are starting to mutter publicly about wanting to leave...
...frenetic" tech investment boom of the late '90s to the "fierce and unrelenting" decline in same that, sharpened by Sept. 11, has landed us in our current predicament. Considering the height of our heights, this recession - if indeed 2002 is a recovery year - has been a "relatively mild downturn...
...they may have also learned a lot about the economy since then, and not just that the downturn started on Clinton's watch. They've learned that business cycles happen, and recoveries take time, and they've noticed that Wall Street doesn't seem to worried about whether Congress passes an economic stimulus package at all, much less what kind it is. They've heard over and over that when America is hurting, the patriotic thing to do is to support their local business by going shopping, eating out, buying a house or a car or at least...
...domestic helpers like Wahyu seems like a classic case of the haves taking from the have-nots. Does it really make sense, socially or economically, to penalize the territory's poorest workers in hard times? Some Hong Kongers are arguing that it does, and that during this economic downturn, the city's estimated 230,000 imported maids should be taking a pay cut. Partly in response to those demands, the government is reviewing the minimum wage for domestic helpers, currently $471 a month, and considering a proposal to lower that salary by up to 20%. The decision...
...rest will take cabs. More taxis means more decent transitional jobs for those displaced by Sept. 11 or any other part of the economic downturn that has hit New York City so hard. Less traffic means cab drivers will make more money working shorter shifts. (Mike, we may want to switch temporarily to a "zone" fare system to keep everybody calm until the market forces settle...