Word: falling
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Dates: during 1990-1999
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...economists use for the urge to splurge when we feel rich but to pull back when we feel poorer--could pound the economy if we see more days like last Tuesday, when the Dow Jones industrial average dropped 299 points. It was the Dow's third-largest single-day fall, though in percentage terms it was not among the 100 biggest drops. "People feel they've got so much money [in stocks] that they can go out and buy that new house or car," says Gary Belsky, author of a forthcoming book on the psychology of investing...
Short answer: Not much if the market doesn't fall much farther, because the robust U.S. economy remains as sound as it has ever been. While few economists expect a replay of the phenomenal 5.5% growth of this year's first quarter, most foresee a healthy 2% to 3% expansion rate for the rest of the year. The employment picture also looks bright. The Labor Department reported last week that the jobless rate held steady at 4.5% in July despite a strike at General Motors that forced factory shutdowns. And even with the summer swoon, the Dow closed last week...
...Harvard-Radcliffe Summer Theater's publicity department has tagged the posters of their latest production, Slavs!, with a prominent line that states, "From the Author of Angels in America." Tourists, summer school students and other people who were not around to witness the latter play's performances last fall may or may not be drawn into the theater by that information. However, those of us who were here and who were impressed will probably at least think about going, if we haven't bought tickets already...
...early '90s. In addition, the latter play doesn't contain the painful and poignant emotional turbulence that the former is famous for. To try to compare them any further would be useless. But rest assured that, if you were genuinely moved by the powerful presence of Angels last fall, you will probably enjoy the bizarre Slavs! this summer...
...individuals, but as part of a greater collective whole. That's why the transition to a market economy is so challenging -- it tears down the collectivist social structure and forces more than a billion people to start looking out for Number One, with no safety net to fall back on. Not surprisingly, that prospect has created deep anxiety and uncertainty among many Chinese. But the dramatic flooding of the mighty Yangtze River in recent weeks has allowed Beijing to reassure citizens that the spirit of pulling together for the common good remains very much alive...