Word: franticness
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Three weeks after the stock market crash in 1929, Lawrence J. Fava jumped into the Schuylkill River in Philadelphia. He was a middle-aged real estate dealer, and he was "frantic" about the losses he had suffered, according to his suicide note. He left the note on the Girard Avenue Bridge and then leapt into the dark, frigid water, according to a small item published that month in the New York Times. But Fava survived the fall, and he regretted his decision at once...
...when the U.S. government's vaunted $700 billion rescue plan barely slowed the market meltdown. The usually ebullient CNBC host Jim Cramer went on Today and implored, "Whatever money you need for the next five years, please take it out of the market right now." Retirees were frantic. Even Fed Chairman Ben Bernanke, his face a rictus of worry, said the economy probably won't improve until next year. Stocks veered wildly...
...precipice of a paradigm shift the like of which has not been seen in nearly a decade. The shift is one that will define a cultural vocabulary for the next four, if not eight years, and it has less to do with the cramping Federal Reserve and the frantic Dow Jones and more to do with bear attacks and the abstract idea of “truthiness.” That’s right: every vote cast on Nov. 4 will be a vote to determine the future of American political humor, whether it be a brittle rehash...
...Masaaki Kanno, chief economist at JPMorgan Securities in Japan, summed up the frantic day in Asia. "Investor sentiment is in panic," Kanno said over the prospect of the spreading financial crisis dragging the global economy into a severe recession. The latest economic indicators are fueling this loss of confidence. For example, Japan's corporate bankruptcies jumped 34% in September, the largest increase since 2000, according to Tokyo Shoko Research...
...sudden, precipitous drop would almost certainly signal the beginning of a recession, since in many ways consumer confidence in the economy is the result of self-fulfilling prophecies: financial anxieties on Wall Street and frantic election-year politicking over the economy aren't really the kinds of things that buck up everyday spenders. But other factors now present in the economy affect popular thinking as well: energy costs, inflation, credit markets and job availability. Thus, the spectacle of Monday's roller-coaster ride on Wall Street may be just one more push toward the point when Americans start to pocket...