Word: similarity
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Dates: during 1970-1979
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...other markets, there were similar cries of pain as huge price gyrations roiled trading in everything from metals and corporate bonds to livestock and even futures contracts for wheat and soybeans. In his office just off Chicago's LaSalle Street, the heart of the Windy City's financial district, Bond Trader Colin MacDonald paused long enough from juggling the phones on his Government securities desk to complain to a reporter that "the market's in a shambles. Before this is over, there'll be enough resignations from wiped-out traders to fill the Yellow Pages...
...could that dreaded month when the bubble burst and the world plunged into a decade-long recession recur exactly 50 years later? Many conditions today look frighteningly similar to those of late 1929. Then the panic was spawned by the Federal Reserve's attempt to nip speculation by raising the discount rate a full percentage point from 5% to 6%. The nation's banks in 1929 had built up a pyramid of foreign debt. National City Bank judged that Peru had a "bad debt record, adverse moral and political risk, bad internal debt situation"-and then lent...
...Detroit Mayor Coleman Young vs. Georgia's Julian Bond, Chip Carter vs. former Congressman Allard Lowenstein, Miss Lillian vs. all comers. It was White House clout against Kennedy cachet, a rush of federal block grants and prestigious appointments against a hint of similar largesse tomorrow. It was who had the buses and got enough of them to the polls. It was, alas, Florida and its distressingly premature launching of the 1980 presidential race...
...ingredients necessary for a society to generate innovation. Historian Barbara Tuchman notes that the 12th and 13th centuries enjoyed "one of civilization's great bursts of development," with the introduction of the compass, the spinning wheel and the windmill. Mid-19th century Europe and the U.S. enjoyed similar explosions. But why? Perhaps necessity is indeed the mother of invention, and the demands of the current energy and environmental crises may yet revive the spirit of the Yankee tinkerer...
...young, modern Jew, acutely aware of the horror of the Holocaust yet eager to spare his writing any Jewish self-pity. His stories are icy, even mean, much to his parents' chagrin. Nathan's battle with his family over a story they deem insulting to Jews must echo a similar fight Roth himself waged with his relatives over Portnoy's Complaint...