Word: panic
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Dates: during 2000-2009
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Translation: the banks were long on oil and probably helped effect high oil prices. But with these banks failing, and prices already declining, they too closed out those long positions and helped bring prices lower. Oil prices may have risen on panic, and fear may have played a role in their recent fall. The mechanism of the fall, however, was a massive liquidation...
...depressed mood is typical of the gloom that has enveloped the world's 13th largest economy. As has happened around the world, the panic that began on Wall Street has seeped into the minds and hearts of South Korean businessmen, bankers and housewives, who fear the consequences of an impending global recession. With the country heavily reliant on exports, South Korea, like the rest of Asia, cannot escape the fallout from a U.S. downturn. Goldman Sachs predicts GDP growth will sink to 3.9% in 2009, the lowest since...
...panic-stricken behavior makes perfect sense in light of the nation's recent history. Of all of the amazing growth stories in Asia's economic miracle, South Korea's is probably the most miraculous. In a mere generation, the country transformed itself from an impoverished backwater living on American aid to a globally competitive manufacturer of microchips, cars and flat-screen TVs. Any setback to that progress is taken with grave seriousness. During the 1997 crisis, office workers, too ashamed to tell their families they had lost their jobs, donned business suits each morning only to hide...
...60th birthday. She says she's still afraid. "There are so many variables in how we receive our drugs that it's amazing there hasn't been a worse problem. Now look at all these kids sick in China because of tainted milk. Sometimes I get in a sheer panic thinking about...
...This too is a presidential tradition. Outgoing President James Buchanan advised Abe Lincoln that water from the right-hand well was better than from the left, and he shared the secrets of the pantry. During John F. Kennedy's visit the day before his Inauguration, Dwight Eisenhower demonstrated the panic button, instantly summoning an evacuation helicopter to the White House lawn. Fatefully, Lyndon Johnson gave Richard Nixon a tour of the hidden tape recorders...