Word: skies
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Dates: during 1980-1989
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Take pity on Fiscal Chicken Little. This little chickie is getting a little hoarse. Shrieking "The sky is falling" quarter after sunny, seasonally adjusted quarter for the better part of a decade is weary work. In the sixth year of steady economic growth -- with unemployment at 5.6%, near its 14-year low, and inflation at 5.2%, modest by the standards of the early 1980s -- it is not easy to maintain the courage of your pessimism...
...interest rates will shoot up, and we'll have a recession; or, as the trade deficit narrows, domestic and export demand will combine to create inflation; or, the burning of Brazilian rain forests will deprive the world of oxygen, and we'll all choke to death; etc. But the sky hasn't fallen. And trying to persuade people it's going to fall any minute is probably not the best way to build a consensus on the next step...
Maybe the sky won't fall if we don't do something like this. But don't blame Chicken Little if it does. Cluck, cluck...
Taxi driver Raham Dahalla, eyeing a darkening sky over Khartoum, hesitantly stuck his hand outside his cab window. "No more rain, please," he said. Sure enough, only a few drops fell this time. But even after the floodwaters subside, Sudan's political, economic and religious problems will be serious enough to engulf any government. For the majority of Sudan's 24 million citizens, the forecast is gloomy regardless of the weather...
...exactly 11:32 a.m. last Monday, bathers at Israel's Palmachim Beach heard a sudden roar and watched in awe as a white rocket streaked into the sky. They were witness to the launching of Israel's first space satellite, which made the country only the eighth (after the Soviet Union, the U.S., France, Japan, China, Britain and India) to possess a rocket powerful enough to put a satellite into orbit. That capability, revealed by TIME in August, offers impressive evidence that Israel can launch missiles and hit targets in most Arab countries...