Word: slump
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...budget will be running deficits for several years, by the administration’s own calculations. On its own, this would not be a cause for uproar—a major new worldwide threat has arisen simultaneously with a slump in the domestic economy, and some deficit spending might be necessary to jump-start production and fight terrorism. But it is tragic that money is instead being refunded to the wealthiest Americans while the poor can hope to receive even less help from the government...
Despite its recent slump, Harvard remains in a tie for second place in the ECAC. The Crimson has an opportunity to break back into the win column with when it hosts last-place Vermont Friday...
...President's popularity rating is above 90%, the highest in the history of the republic. In Europe, many incumbents may not be so lucky. German Chancellor Gerhard Schröder, who faces an election in September, has seen his chances dented by the continuing economic slump. In France, Prime Minister Lionel Jospin and President Jacques Chirac will likely face off for the presidency in a contest that begins in April - but Jospin has been hit by France's failing economy and Chirac by corruption allegations. Asia has a few weak leaders of its own, with Indonesia and Malaysia facing possible...
...terrors of 2001 have made the world more risk-averse in other ways as well. Fear of flying brought a drop in air travel, prompting multibillion-dollar bailouts and causing a slump in tourism. This year more struggling airlines are likely to go out of business. The drop in the Dow is another symptom of risk avoidance; we feel safer putting our money under the mattress than putting it in the stock market. Even the entertainment industry is taking no chances, which means more of the same on stage and screen: sequels to sequels to sequels, including the next installment...
...businessman as smart as Kirch get into such a mess? Like media groups all over the world, the global economic downturn and the consequent slump in advertising have hurt the Kirch group. But most commentators trace his current troubles back to his foray in the 1990s into German pay-TV. Estimates suggest that by 1996, Kirch had invested close to $5 billion in digital technology and programming for pay-TV services. In 1999, he spent $1.27 billion to gain control of Premiere, his flagship pay-TV service. It was one risk too many. Since the start of 1999, KirchPayTV...