Word: go-go
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...doubt though. The proprietor of the Happy End café in Toyota City's center sees Toyota's current crisis as yet another stop in the town's 30-year decline. Toyota City, he says, has never regained the bustle it enjoyed back in the 1980s, during the go-go years when Japan was the rising force of the global economy. Since the Toyota shock, Kamiya's sales are down 50%. "We're very worried that we can't continue," he says. And that all depends on Toyota...
...city could recoup its investment if the developer sells enough million-dollar condos to Vancouver residents after the Olympics are over. That may have been a reasonable expectation in the real estate go-go days. Yes, the digs are nice, and the development has won kudos from environmentalists for the energy-efficient design of the complex, which has green roofs and will reuse rainwater, and for its easy access to public transportation. Metro Vancouver housing prices have rebounded from the worst recession lulls - year-over-year condo prices were up 15% in January - but it's still...
...dance. As a new musical in Germany about Barack Obama's rise to the top demonstrates, politics takes on a whole new comical meaning when set to music. In one scene, for instance, a Sarah Palin look-alike belts, "I'm a pit bull!" while surrounded by scantily clad go-go dancers. In another, John McCain performs a rock song called "See You in November" with an ever-so-slight German accent. The Obama character, meanwhile, sings excerpts from the candidate's actual speeches while backed by the "Yes we can!" shouts of a gospel choir...
...hubris, and it's easy to conclude that Dubai and its real estate developers crossed it when they planned the newly opened Burj Khalifa, which, at 2,717 ft. (828 m), is by far the tallest building in the world. Since the skyscraper was planned, the tiny emirate's go-go boom has stalled, and its real estate bubble popped. But there's another way to look at the Burj Khalifa--which you can do on a clear day from 60 miles (100 km) away. The building supplanted an unlovely tower in Taipei as the world's tallest...
...resounding no. Let us count the ways. For one thing, the stock market is down 26% since 2000, making this the worst decade for stocks. (Inflation-adjusted, it's even worse.) I remember Warren Buffett telling me at the beginning of the decade that there was no way the go-go returns of the 1990s were going to continue and that we had better get used to meager returns going forward. Buffett saw it coming. (See 25 people to blame for the financial crisis...