Word: panic
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Dates: during 1990-1999
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Gephardt's comments sent the White House into a panic. Erskine Bowles, Clinton's chief of staff, tracked Gephardt down in Kentucky to complain, and urged the Missouri Democrat "to walk this thing back," as a top aide to the President put it. Gephardt did what Bowles asked, but only up to a point. "I do trust the President," he assured TIME the next day, adding that "we ought not jump to conclusions one way or the other." But no amount of rephrasing could hide the fact that Democrats are distancing themselves from Clinton as they nervously wait for Starr...
...devaluation and debt moratorium flop, the result is likely to be not only another financial panic, but also a discredited political establishment. Russia's leaders have proclaimed too often that they have found the way to lead the country out of its penury--only to falter. In this case, the currency reserves would run out, and so would the Kremlin's kredit doveriya--its fund of public trust...
...while the current financial collapse may cause panic outside the country, for Russians life goes on as usual. The manufacturing sector, after all, failed from the start: State-owned factories -- churning out goods that people no longer wanted -- were unable to adapt to a market in which consumers had a choice. "Much of the country has lived, literally, without money for years," says TIME Moscow bureau chief Paul Quinn-Judge. "The meltdown in Moscow is simply bringing it into line with the rest of Russia." By comparison, consider China's transition to capitalism: The Communists never relinquished tight political control...
...Chernomyrdin's coalition is that things will get worse before they get better. But after surviving seven grueling decades of communism and a Nazi invasion that killed 20 million people in only four years, it's not surprising that Russians greet news of financial collapse in Moscow not with panic, but with a resigned shrug...
...Cape Town has seen worse, and a gentle city surrounded by the natural splendor of a mountain and two oceans isn't particularly prone to panic. Nelson Mandela's ANC was only ever partially successful in mobilizing residents of the notoriously lethargic city to take action against apartheid; Osama bin Laden's chances of turning Cape Town into an epicenter of global jihad are, at best, remote...