Word: plummetted
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...Helping Wall Street and stopping the foreclosures are only part of the solution. The U.S. economy is headed for a serious recession and needs a big stimulus. We need increased unemployment insurance; if states and localities are not helped, they will have to reduce expenditures as their tax revenues plummet, and their reduced spending will lead to a contraction of the economy. But to kick-start the economy, Washington must make investments in the future. Hurricane Katrina and the collapse of the bridge in Minneapolis were grim reminders of how decrepit our infrastructure has become. Investments in infrastructure and technology...
...drift downward slightly from the August number of 895,000. The upside: "There isn't a lot of room for decline," says Englund. Many experts believe the bottom is near. LaVorgna says it is just a matter of time before the number drops below 800,000, a large plummet from the 2005 high of more than 2 million new homes under construction...
...Japan was hit hardest: Tokyo's Nikkei index fell nearly 10%, capping a week that saw Japanese shares plummet 25%, the worst weekly performance in the index's history. Investors fled after the credit squeeze claimed its first Japanese victim: Yamato Life Insurance Co., which filed for bankruptcy Friday after suffering huge losses in its securities holdings. Yamato's collapse, the first by a Japanese insurance company since 2001, sparked fresh worries about the health of the country's financial institutions. "My concern is whether the banks and insurance companies can keep standing," says Yukiko Kanoh, 53, an administrative assistant...
...press car companies into going green: all of us. So long as drivers tire of high oil prices (more than $8 per gallon in Paris) and feel real satisfaction at switching to cleaner technology, automakers are likely to oblige them with affordable electric cars. But should oil prices plummet, we could once again be lulled into thinking that all is well - or at least good enough - with Planet Earth...
...reaffirmed in a 1996 referendum, will ultimately be overhauled-or whether an amendment is even in the popular mayor's best interest. History hasn't been kind to the city's third-term mayors, of whom there have been four; the most recent, Ed Koch, saw his popularity plummet during a tumultuous final term. A third Bloomberg administration would be forced to confront massive challenges, not the least of which would be steering the city through the fallout from Wall Street's implosion while coping with budget cuts. Even if Bloomberg secures a third term, there's no guarantee...