Word: runaways
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Ultimately, of course, too much money can wind up being as damaging to an economy as too little. While the Fed walks the razor's edge between economic collapse and runaway inflation, it badly needs the support of both the Congress and the Administration to curb spending, chop the deficit and prevent the nation's current economic troubles, and the bond market's jitters, from turning into something far worse. -By Christopher Byron. Reported by David Beckwith/Washington and Frederick Ungeheuer/New York
When investors finished adding up the losses after the stock market closed on Friday, the extent of the devastation was electrifying. The most money was lost on Warner. The company's stock sank during the week like a runaway elevator-from $54 to $35, a loss in market valuation of an astounding $1.3 billion. Shares of the other market leader, Mattel Inc., which makes Intellivision, lost $192 million, fully 40% of their earlier value...
...drive other members into line. Reason: though economists generally agree that a slow and moderate decline in prices to, perhaps, $25 to $28 per bbl. would on balance be a long-term tonic for the wavering world economy, a sudden and wrenching break in prices brought on by runaway discounting could prove perilous for oil exporters and importers alike...
...consuming and exporting nations alike, the ultimate message pre-Vienna is already clear enough: when it comes to oil, collapsing prices, like runaway increases, can threaten the world economy, at least in the short run. Many bankers are saying that the best they can hope for in Vienna is no change in price. That is probably what they will...
...race which looked like a runaway as recently as mid September has, according to the polls, ended in a photo-finish. Frank Lautenberg, a moderate Democratic businessman from Montclair, has succeeded in raising serious questions in voters minds about sending a 72-year-old gadfly to the Senate merely because her heart's in the right place and it's sort of cute when she smokes her pipe and reminisces about the years between the Great Wars...