Word: high
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Dates: during 1980-1989
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...rally surprised experts, most of whom had expected the dollar to drift lower this year. Their best explanation: a combination of high U.S. interest rates, which make the dollar attractive to foreign investors, and the political woes of West Germany and Japan. The Japanese have yet to pick a successor to Prime Minister Noboru Takeshita, who announced his resignation in April over a stock scandal; in West Germany, Chancellor Helmut Kohl's Christian Democrat Union has lost two important local elections this year. Moreover, even though the yield on such securities as ten-year U.S. Treasury bonds has slipped from...
...week's end traders pushed the dollar to a 2 1/2-year high of 1.977 West German marks. That pierced the 1.90-mark ceiling that the U.S. and its trading partners reportedly agreed to in a 1987 accord. In Tokyo the dollar's high reached 139.88 yen, its loftiest level in 16 months and just below the 140-yen ceiling that the allies set. The U.S. and its partners are determined to do what they can to slam on the brakes -- but whether their efforts would slow down the runaway dollar remained an open question...
...Seattle the economy is already sparking along. Area joblessness is 4.6%, a 20-year low; major employer Boeing is operating at an all-time high percentage of capacity; and hundreds of thousands of new residents have moved in during the past few years. Downtown, a state convention center, a shopping mall and underground bus tunnels are under construction. The area has been so torn up that some residents refer to it as "little Beirut...
...cities traded economies, the results might have been reversed. Denver, once riding high on an energy boom, has been slumping for the past four years. Metropolitan-area employment has shrunk by 55,000 jobs, to a present total of 939,100, and real estate values have shriveled; the average Denver house is priced at $79,900, down 15% in two years. Last year more people moved out of the area than moved in for the first time since the Depression years of the 1930s. In that climate, voters bought the promises of Romer and Pena that a new airport would...
Those who actually read Salman Rushdie's notorious best seller The Satanic Verses may have absorbed Rushdie's brilliant perception of what the planet has become: old cultures in sudden high-velocity crisscross, a bewilderment of ethnic explosion and implosion simultaneously. The Ayatullah Khomeini's response to Rushdie is (whatever else it is) an exquisite vindication of Rushdie's point. Khomeini's Iranian revolution was exactly a violent repudiation of the new world that the Shah had sponsored. The struggle throughout the Middle East now is, among other things, a collision between Islam and the temptations and intrusions...