Word: rebounds
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...Instead, the weak get weaker, and hope is fading that relief will come from an economic rebound. Government economists on Aug. 30 estimated that the country generated zero GDP growth in the first quarter, revising an earlier estimate of a 1.4% gain. Ken Courtis, vice chairman of Goldman Sachs Asia, predicts no growth at all in calendar year 2002. "The only way to be optimistic about the Japanese economy," he says, "is to turn the charts upside down...
...should buy: more than $30 billion flowed out of stock funds in July, the biggest one-month exodus since the 1987 crash. Selling stocks when prices are so low is "insane," says Morgan Stanley global strategist Barton Biggs. That scared money missed the Dow's 1,000-point rebound...
...face on television was bracketed by graphs showing stocks in free fall. Inside the White House, Bush's number crunchers debated whether to goose the market with a tax cut or a round of spending but ended up telling him that the best policy was to wait for a rebound and not meddle...
Members of the ruling family fret that outrage against the U.S. could rebound against them. That's why the Saudis have pleaded with Washington to restart the peace process and put more pressure on Israel. In mid-June, as the White House was drafting the President's Middle East policy speech, Saudi Foreign Minister Prince Saud al-Faisal met with Bush and handed him a letter from his uncle Abdullah urging the U.S. to promote a "clear vision" in the speech, including geographical boundaries and a timetable for Palestinian statehood. Two days later, Abdullah personally phoned Bush to lobby...
...Better Housing found that nearly 75% of the city's landlords illegally refuse or rebuff apartment-seeking tenants who present housing vouchers. That makes it almost impossible to integrate poor families into economically diverse parts of the city. On the city's South Shore, which is undergoing an economic rebound, some neighborhoods are organizing against a possible influx of the poor, who they fear will lower property values. Nearly 80% of families relocated by the CHA in the past three years wound up in neighborhoods that are almost entirely black, with household incomes averaging $15,000 or less a year...