Word: shocks
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Dates: during 1980-1989
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...country's leadership has indelibly marked November 4, 1980 in their minds. Like the assassination of John F. Kennedy for an earlier generation, almost every senior knows where he was and what he was thinking the night of that election. For the largely liberal student body, the reaction was shock. James Orenstein '84 was in the middle of a play rehersal when "someone broke in and said that Carter had conceded and Reagan had won. Everyone was stunned, they just stood there...
...running a record trade deficit that puts downward pressure on the dollar. A steep plunge could kindle U.S. inflation by boosting the price of imports. Warned TIME Board Member Lester Thurow, an economics professor at the Massachusetts Institute of Technology: "You could get a dollar shock that could push the inflation rate close to the double-digit level a year from now." Rimmer de Vries, chief international economist for New York City's Morgan Guaranty Trust, said that the dollar may stay strong for a while longer, but acknowledged that the financial markets fear a big drop...
Hollywood discovered future shock in its infancy; new "generations" of talent can arrive every few years, encouraged by the new Old Guard. With Gremlins Spielberg, 36, has played godfather to two successive waves of moviemakers: Dante, 36, and Columbus, now all of 25, who is at work writing another script for his mentor. Says Spielberg: "You can drop a stone into the black hole of Chris' imagination and never hear it hit bottom. I'd never thought about directing Gremlins myself-I wanted to take a long vacation from anything with a wire trailing from its rear...
...nearly a generation, many West European countries enjoyed very low unemployment. While the jobless rate in the U.S. was seldom less than 4%, the countries of the European Community and Scandinavia had just 2% to 3% unemployment. But since the first oil-price shock in 1973 all that has changed. During the '70s about 20 million new American jobs were created in high-tech fields and service industries. Yet in Europe total employment in 1983 was less than it was in 1973, and unemployment is now above 10% in several countries...
...world's most famous entertainer, but Michael Jackson, 25, is hardly the outgoing type. Nevertheless, the usually reclusive superstar had a downright gregarious week as he slipped into New York City, where he recorded a duet called State of Shock with Rolling Stone Mick Jagger, 40, for a new album expected out next month. During his stay in the Big Apple he showed up backstage after taking in Shirley MacLaine's Broadway hit. Then it was off to Washington, where he checked into the Four Seasons Hotel virtually unnoticed, until he asked the management to install...