Word: grossness
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Dates: during 1990-1999
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Even a golden economy needs a little help from its friends, though, and the economists give high marks to Federal Reserve Chairman Alan Greenspan for tightening credit in 1994, before the recovery overheated. Since then, the real gross domestic product has expanded at a sustainable average rate of 2.6% a year, while inflation has been running at less than...
...Spice Girls on a London street. Says fund manager James Cramer: "Other than Andy Grove, the guys who manage Microsoft and maybe Lou Gerstner, there's no better management than Chambers and Cisco. In any industry." Cisco recently unveiled its latest eye-popping numbers--52% sales growth with gross margins reaching 65%. And the company pulled this off during a wrenching product transition...
...paid off handsomely. Not only is there no prospect of a war in Europe, but the ancient enemies--France and Germany at the center--have integrated their economies, torn down internal trade barriers, and face the world increasingly as a single unit. Their prosperity is enormous: Europe's gross domestic product last year, $8.6 trillion, overshadows America's $7.6 trillion...
...European Union may join, so that excludes all the former Warsaw Pact states. Then the applicants face strict requirements set by the Maastricht Treaty of 1992. At the top of the list is the demand that a country's budget deficit must not be higher than 3% of its gross domestic product. That is a tough one, and most European governments have been energetically slashing budgets (read welfare programs) and raising taxes for several years. It's so tough, in fact, that even Germany and France may not make the grade. Some fancy finagling is under...
...make this as clear as possible, the CICHPA has, of course, referenced these figures to the Gross Domestic Product of various small countries...