Word: runup
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...sold stocks in order to record gains that would be taxed at the new low rate. In '81, the S&P 500 plunged 15% in six weeks. Later the markets took off as investors sought low-tax opportunities. The '78 sell-off paved the way for a two-year runup that enabled the S&P 500 to snap out of a 14-year funk. The '81 sell-off set the stage for the mother of all bull markets...
...course, this proposal is a bald faced grab for arm votes in the runup to the November election, but that's old news. Much more frightening is that, in a single stroke, Bush has wantonly threatened the stability of the European Community (E.C.) and has seriously undermined the GATT mission of multilateral trade liberalization...
...seven major industrialized countries, or G-7, issued a communique that showed no distinct resolve to fight a dollar rally, saying only that an increase in the currency's value "could be counterproductive." Traders took that language -- correctly or not -- as a subtle hint that a mild runup in the dollar would be tolerated...
...even the recession is succeeding in containing the inflationary runup in health care. Last week the Labor Department reported that June unemployment held firm at 9.5% of the labor force, continuing an employment slump that has helped to ease inflationary pressures throughout much of the economy. Even so, health-care costs have just kept on surging ahead without letup. Nearly 10% of the U.S.'s gross national product is now spent on medical care of one sort or another, compared with only...
...Administration is afraid that the economy is beginning to slow down at a time when there are few signs of relief from inflation. Government figures released last week showed consumer prices increasing at an annual rate of 12.7%. The principal cause of the latest runup in prices was a spurt in the cost of energy following annual rates Reagan's action in January to lift the remaining price controls on crude oil and gasoline...