Word: golds
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Dates: during 1970-1979
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...flashlights and other household items as thousands of Floridians jammed their local stores. At Saunders Hardware Store in Miami, there were fights in the aisles when hundreds crowded in to grab batteries, tape and Sterno. But four hours before the storm was due to hit Florida's Gold Coast, it changed course, sparing Miami and the Keys...
...after Labor Day marks the start of a new year - the end of the slow season, a time of fresh beginnings. But this new year opened with a disquieting week of turmoil. As nervous investors continued to convert cash into inflation-proof tangible assets, the price of gold shot up to a wallet-popping $341 an ounce before settling back at week's end to $329. The Dow Jones industrial average, which had been rising since July, plunged 15 points in one day, the largest decline since last December. Other news was also depressing. Wholesale prices rose in August...
While the flight to gold shows that some investors remain worried about the long-term direction of the U.S. economy, the market decline early last week was considered to be a short-lived emotional response to higher interest rates. These both slow the economy and make bonds relatively more attractive than stocks. Federal Reserve Chairman Paul Volcker repeated that he is committed to throttling back the growth of money supply, and that interest rates would therefore remain high as long as the rate of inflation did. Indeed, the banks' prime rate for business loans climbed from...
Given these factors, there may have to be quite a bit of pulling and hauling to get that bull market on its feet and charging hard. But optimists point to some fundamental trends that will be bracing for the market and may help stall the gold machine...
...like the word decadent. All shimmering with purple and gold. It throws out the brilliance of flames and the gleam of precious stones. It is made up of carnal spirit and unhappy flesh and of all the violent splendors of the Lower Empire: it conjures up the paint of courtesans, the sports of the circus, the breath of the tamers of animals, the bounding of wild beasts, the collapse among the flames of races exhausted by the power of feeling, to the invading sound of enemy trumpets. -Paul Verlaine, circa...