Word: marketeers
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Dates: during 1970-1979
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...recession will be fairly mild and brief, and the market will be slowed only temporarily by the crimp that a downturn would put in corporate earnings...
Despite these downbeat reports, the Dow Jones industrials revived at week's end, rose seven points on Friday and closed at 874. Amid the glum news, market analysts and money managers are increasingly confident that a new and sustained bull market is shaping up. Reports TIME Correspondent John Tompkins from Wall Street: "The mood is in the air, palpable, something you can feel. To be sure, there are some well-known bears who still radiate gloom and even a couple of bulls who have turned bearish. But the consensus is that no matter how bad things look in Washington...
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...
Zeckhauser said the purchase did not violate the spirit of the agreement, but some Cambridge residents disagreed, since buying the property and holding it for Brody's low interest purchase may have prevented the unit from reaching the open market. "It is yet another example of Harvard's ongoing maneuvering to make it difficult for Cambridge residents to buy property in their city," David Sullivan, a city council candidate, said. "It is only one unit, but it is part of a consistent scheme," Sullivan said, adding "even small violations call into question Harvard credibility...