Word: downturning
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Dates: during 1980-1989
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...members of the New York bureau to cover upstairs trading rooms and to the floor of the exchange. Other reporters were in every major bourse in the world, from Tokyo to London, from Chicago to Los < Angeles. Back in New York City, Senior Writer George Church tackled the dramatic downturn with the authority of his many years as the magazine's premier economic and political writer...
...inevitability of business cycles means that a downturn of some sort is sure to occur within a few years. But economists generally believe any such slump would go no further than a difficult recession, rather than plunge into a full-blown depression. Reason: since the 1930s the U.S. has constructed a battery of economic and social safeguards. When the last crash struck, the U.S. lacked such backstops as bank-deposit insurance, unemployment compensation, food stamps, Social Security and Medicare. Says Economic Consultant Pierre Rinfret: "Could we have a crash a la 1929? The flat answer...
...occurred at double the rate," notes W. Van Bussman, a corporate economist for Chrysler. The current levels of debt might be supportable if good times went on forever. But during a recession the cascade of defaults would aggravate an economic downturn...
Determan studies annual reports and other documents before taking the plunge, but if he has any remaining questions, he simply calls the company president. That opportunity, he points out, is one of the lesser-noted benefits of investing in small ventures. When he became concerned about an earnings downturn at Innovative Software, Determan called the chief financial officer there, who reassured the investor that the profit slump was "just a glitch." So Determan held on to the stock, which proceeded to zoom from about 10 last November to 22 now, even after a 3-for-2 split...
Though they remain in the minority, a growing number of economists believe the proliferating danger signals may herald a downturn. Says Pierre Rinfret, an economic adviser to President Nixon: "Continued decline of the dollar, coupled with fears of higher interest rates and inflation, will produce a recession before the end of the year." Henry Kaufman, Salomon Brothers' chief economist, suggests that there could be a recession...