Word: panic
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Dates: during 1960-1969
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...could jump to the other league for more money. "What can you do," asked A.F.L. Commissioner Al Davis, "when a kid who doesn't know beans about pro football but makes twice as much money as you do tells you to go to hell?" Club owners began to panic. "We were getting near financial suicide," says N.F.L. Commissioner Pete Rozelle. And fans grew disgusted. "The whole sport," says Rozelle, "was beginning to look pretty shabby...
...Fear of Panic. Inspired by this happy thought, Bojarsky set to work reading books about papermaking, visiting pulp factories on guided tours. Then, using a combination of rain water, cigarette paper and other wood fibers, he mixed his first batch of pulp in a secondhand bidet. Helas! The first sheet that he pressed looked "like a crepe suzette." Bojarsky persevered, made his first contribution to the wealth of society by passing one of his homemade franc notes in return for his Christmas chicken...
...only enough funny money to get by, banking much of the rest. It was 1952 before the Bank of France first detected his handiwork, soon became so apprehensive about the size of the operation that they did not dare sound a general alarm for fear of triggering a national panic. ("Had they said something," Bojarsky later complained, "I would have stopped. But as they never did, I figured they just weren't interested...
...killing ground of South Viet Nam itself, very little of equal value was happening. In a panic-stricken debacle along Saigon's Hai Ba Trung Street U.S. military police opened fire on a truckload of civilian dockworkers and killed six of them. In Danang far to the north, Premier Nguyen Cao Ky made an even more quaking move: a group of Vietnamese marines "invaded" Danang and quietly established control over the major center of Buddhist political unrest, then lounged peacefully on the grass. That quietude may well be shattered by Buddhist riots. From Saigon to the Red Chinese border...
There is, however, a notable difference. In '29, the massive daily trades were due to panic trading. This time it is confidence trading. Armed with more cash than ever, big and little traders roam the market for cheap stocks that are likely to rise rapidly; then they sell, take their profits, and start searching about again. The result is one of the most speculative markets that Wall Street has ever known...