Word: slump
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...thus attracted massive amounts of money out of the mortgage market, put an enormous strain on banks and credit, and generally slowed production?without even denting inflation. Growing doubt among investors about the Administration's ability to control the economy has sent the stock market into a frightening slump. The Dow Jones industrial average has plunged almost 200 points in the eight weeks since Ford took office, closing last week at a twelve-year low of 585. The Labor Department announced that the unemployment rate for September jumped from...
...than a Labour one, of course, to obtain mountains of foreign credits, but the indulgence of foreign bankers will run out eventually. In order to reduce costs some companies will attempt to lay off workers; meanwhile, other firms will go bust under the impact of tactical strikes and the slump. Nationalization of both kinds of companies will be demanded to save jobs and, given the state of public opinion in Britain today, such demands will be irresistible. Once industry is nationalized, the same kind of redistribution of wealth that would occur under a Labour government could be effected...
Indeed, Rockefeller apparently did not even sell off during the current slump, although the stocks have lost an estimated 30% of their value-some $60 million-in the past 18 months...
Hardly Placid. Greenspan had something of a point. The stock market's slump has dried up commissions and devastated the brokerage business. Last year the number of registered representatives shrank from 40,000 to 36,000, and layoffs have accelerated gravely since then. Many salesmen are forced to take part-time jobs as bartenders, models and retail clerks. Yet understandably, Greenspan's remark touched sensitive nerves...
...feeling of helplessness and frustration was fueled by rising unemployment, a slump in economic growth, skyrocketing inflation and precarious governments. For example, the Cabinets ruling Belgium, Britain, France, West Germany and Portugal were all less than one year old. In Italy, Premier Mariano Rumor headed a chronically unstable coalition (the 37th since 1943). The Labor Party of British Prime Minister Harold Wilson held only 298 of Parliament's 631 seats. Portuguese President António Spinola had no constitutional basis of power and held office at the pleasure of the group of young military officers who deposed the half...