Word: glooming
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...last week by Yankelovich Clancy Shulman, 59% of the adults surveyed said they expect a recession, up from 55% two weeks ago. The vast majority expect conditions to deteriorate: 66% anticipate rising unemployment, 75% foresee higher interest rates, and 86% believe inflation will increase. They have good reason for gloom, beyond the tendency for such fears to become self-fulfilling prophecies. Big oil-price increases act like a stiff tax increase, pulling money out of consumers' pockets and reducing their ability to buy other products. A rule of thumb is that an annual increase...
Despite the heartening figures, many consumers and companies across the U.S. remain mired in the economic doldrums. The gloom is particularly deep in the troubled Northeast, which has been reeling from tight credit and downturns in everything from computers to construction. In Massachusetts the unemployment rate has surged from 3% in 1988 to 5.8%. Meanwhile, the securities industry has laid off 45,000 employees, or about 10% of its work force, since the 1987 crash. The hard times caused home sales to slide 15% in the Northeast last year. "It's hard to see how things could get terribly much...
...gloom, however. VEB Polygraph is a remarkable success story -- a sort of Katarina Witt of East German industry. The five principal enterprises of this former state conglomerate -- Planeta, Plamag, Zirkon, Brehmer and Perfecta-will now be run separately. All make sophisticated printing equipment, and all are international leaders in their fields. Some other machine and machine-tool companies get good marks from Western bankers, including the Fritz Heckert plant in Chemnitz and parts of the October 7 group like the Niles gear-grinding machine company that had its origins in Niles, Ohio. The list of the tigers, though...
...bearer of good news when he appeared before the Lithuanian Supreme Council last Friday morning. But the report that he delivered still came as a shock. Standing beneath a huge yellow-green-and-red national flag, the burly leader of the Lithuanian Communist Party offered a gloom-and-doom scenario of what lay ahead for the breakaway Baltic republic in the aftermath of President Mikhail Gorbachev's decision to cut back drastically on oil and gas shipments. "Understand me correctly," said Brazauskas, leaning on the blond wood lectern. "I have never tried to frighten anyone or spread panic. We have...
...choke the country's economic growth and sap the ebullient confidence that has filled Japanese investors and businessmen in recent years. "The pendulum has once again swung in Japan," says Richard Koo, a senior economist at the Nomura Research Institute. "It's now over to the doom-and-gloom side, when objectively speaking, Japanese companies remain the strongest in the world...