Word: phase
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Dates: during 1980-1989
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...exit of Falwell plainly ends the initial era of the Religious Right and quickens speculation on its prospects in the next phase. Even as Pat Robertson escalates his evangelically inspired presidential bid, recent tidings seem to amount to a threnody of waning influence for the movement. Television ministries have had a particularly rocky time. The Contribute or Else I Die campaign of Oral Roberts disgusted many Americans as well as his own church, which ruled last month that Roberts' status is not, and never has been, that of a United Methodist clergyman. Above all, the horrendous PTL scandal has harmed...
With the naval bombardment, the conflict in the Persian Gulf entered a new and more dangerous phase, one characterized, in typical Middle East fashion, by attacks and counterattacks, retaliation and revenge. The U.S. was responding to Iranian Silkworm missile strikes on the oil tankers Sungari and Sea Isle City two weeks ago. The Sungari is U.S.-owned, and the Sea Isle City is one of eleven Kuwaiti tankers now flying the American flag. President Reagan called the 85-minute blitz of the oil platforms a "prudent yet restrained response" to Iranian aggression. Secretary of Defense Caspar Weinberger told a press...
...think the market action over the next several weeks will be erratic, and by no means is the market embarking on a new bullish phase here," said Jack Baker, head of block trading for Shearson Lehman Brothers Inc. "We wouldn't be surprised to see further slippage in the weeks ahead...
...worrisome parallels to the 1920s begin with Wall Street. From 1925 to 1929, stock prices more than doubled. But during the current bull market, the Dow Jones industrial average has more than tripled in value since the run- up began in August 1982. During the rally's first phase, investors put their money in stocks based on their intrinsic value, which was backed by corporate profits and dividends. But in the later stages, the betting has become almost purely speculative, as investors pour cash into the market in fear of missing the free ride. At this point, many stock prices...
...million residents and 1 million annual visitors. Much of the capital's legendary congestion may finally be relieved this week, when Egyptian President Hosni Mubarak officially opens Cairo's first subway service. Five years and $1 billion in the making, the 17-mile, six-station ( system is the first phase of a projected 25-mile line that will ultimately transport 1 million passengers...