Word: downturned
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...hold new elections. But Gbagbo isn't having any of it. Once the most prosperous and stable state in West Africa, the Ivory Coast has been in an economic decline that has brought political turmoil. Its initial economic successes had attracted millions of immigrants from neighboring countries, but the downturn has spawned a wave of nationalism that underlies much of the current crisis. Outtara was kept out of the last elections on the grounds that his parents were not Ivoirian, and Gbagbo espouses the same Ivoirian nationalism as ousted President Konan Bédié. Even if the latest political...
...them will probably be there when the economy claims its downturn, and the other side will crow endlessly, and unless they've both been seriously underestimated as potential leaders, one of these unlucky guys is going to get run out of Washington on a rail. Big time...
...small irony that even as Silicon Valley suffers, much of the heartland still basks in the good times the New Economy has made possible. Throughout the Midwest, consumers have been shrugging off the downturn in stocks and taking out home-equity loans to finance remodeling, or a new car or a European vacation. "There's not a chance this boom is over," says Diane Swonk, chief economist for Bank One in Chicago. "Consumer attitudes are high in the face of high oil prices, stock-market volatility and even election rhetoric. Most Americans live on Main Street, not in Silicon Valley...
...than 700 points, and websites from MTV.com to OfficeMax slashed their staffs. Even mighty Walmart.com shut its virtual doors to remodel for the holiday rush. The final irony, however, may have come when Dotcomfailures.com a website devoted to bankrupt Internet companies, went out of business. Now that's a downturn...
...precedent for how Gore might reassess in a downturn can be found in the early days of Clinton's first term. In the 1992 campaign, Clinton and Gore promised $200 billion of "investment" spending to stimulate the economy, retrain workers and promote high technology; they ignored the growing deficit. But after Election Day, it grew even larger. Gore teamed with economic adviser Robert Rubin to talk a reluctant Clinton into abandoning his "investments" - and a middle-class tax cut - to focus on deficit reduction. The move helped reduce interest rates and turn the recovery into a boom. "Al showed...