Word: euphoria
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Dates: during 1990-1999
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Wall Street's euphoria reflected investors' hopes that rock-bottom interest rates would help end the economic slump. "The stock market is predicting a recovery," said Allen Sinai, chief economist for the Boston Company Economic Advisors. Investors, he noted, expect the fall in rates to reduce the interest burden of debt-laden companies and thereby boost corporate profits...
...economy's spring pickup apparently was "Gulf War-related" --boosted by national euphoria after the victory over Iraq--"and not really an indication that the economy's fundamental problems had been licked," said Robert Dederick, chief economist at the Northern Trust...
Independence! Self-determination! Freedom! As the Soviet Union's many ethnic and religious groups take up these rallying cries with increasing conviction, it is easy to forget the dark side of nationalism. The first reaction to the disintegration of the menacing Soviet monolith may be euphoria, but all too often, as demonstrated by other countries where ethnic rivalries have shattered national integrity, bloodshed soon follows. In Yugoslavia fierce fighting has killed more than 300 people since Croatia declared independence on June 25. In Sri Lanka an eight-year war between Tamil guerrillas and the Sinhalese majority has left...
There came a burst of euphoria when the reactionaries' coup failed. Then the headlong dismantling. Here was the famous domino effect in reverse, whole peoples going uncommunist by chain reaction: Lithuania, Georgia, Estonia, Latvia, Ukraine, Belorussia, Moldavia, Azerbaijan, Uzbekistan, Kirghizia. The future, sunny a moment earlier, suddenly looked problematic and dangerous. What of the 27,000 nuclear warheads deployed on missiles, bombers, submarines and at ammunition dumps across the old Union? Would the world see a medieval fragmentation, reversion to the old city-states of Kievan Rus and Muscovy, and feudal warlords with nukes? What of the 25 million ethnic...
Which is not to say the gulf war wasn't worth it. A crucial principle was defended: aggression will be checked -- at least when the victim sits atop the commodity clemenceau said was "as necessary as blood." But on most other fronts the euphoria of the allied victory has given way to the region's traditional pessimism. Centuries-old attitudes have not changed, new alliances have not jelled, and the historic suspicion of Western influence has receded only slightly. Even a joint defense force to deter future invasions has proved impossible to fashion; such is the distrust among the gulf...