Word: normalizes
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Dates: during 2000-2009
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...March lows [6440 on the Dow], but I'd be very wary about chasing the stock market right now. We don't have many similar historical examples to look at, but in light of credit contractions and asset deflation, it should be understood that this is not a normal manufacturing-inventory recession. Nor was the 1930s. At that time, we bounced off July 1932 stock market lows, and three months later the market was up 70%. I can only imagine what the psychology was back then - "How can we have missed out on that rally?" Here's the kicker...
...rule of law also has defects less obvious to us. Suppose the law is bad, then the rule of law is the rule of bad law. Think of the law requiring Rosa Parks to sit in the back of the bus. And a good law, meaning good in normal circumstances, may not be good in an emergency, when the country is at war or under attack. It may not even be good in a special case in ordinary times; this defect requires what used to be called equity and is now called “empathy.” Moreover...
...ratios are becoming increasingly unbalanced in many parts of the world, especially in China and India (which account for 37 percent of the global population). The normal sex ratio at birth is roughly 106 males for every 100 females, but it may presently be as high as 120 for young people in China, or as high as 111 in India. This shift may arise from preferential abortion or the neglect of baby girls relative to boys. Gender imbalance may also have other determinants, such as large-scale migration of one or the other sex in search of work...
...develop the high-tech industries of scale that were needed to fight the Axis powers. So successful were those North American industries in developing a mass middle-class standard of living that three generations of Americans were seduced into assuming that the prosperity of Detroit's golden age was normal and how America should be. It was nothing of the sort. It was an accident of world war, and the sooner we recognize its transitory, contingent nature, the shorter will be our mourning for its passing. This piece is based on a passage from Elliott's 1996 book...
...going to win, so just relax. If it feels like work, you're running too hard." I just wish people would run two miles as if they were running 100 miles, because one thing that you will always see in ultra-races that you will never see in normal marathons are smiles. People are relaxed and enjoying the moment...