Word: slumping
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Dates: during 1980-1989
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...slump leaves 8.2 million jobless, and still more face a pink slip...
When the cost of money shot up early this year, consumer spending tailed off, the economy and the stock market started to slump, and unemployment lines began to lengthen almost everywhere. Yet now that the recession has cooled the demand for money, the high cost of borrowing has steadily dropped. This is making it somewhat easier for people to buy a house or a car, or perhaps just go out to dinner on a credit card...
Tall towers defy the slump...
...BOYS in Hollywood pride themselves on being able to predict the future. A few years ago--before the DC 10, Three Mile Island and the Ford Pinto entered their current slump--the batboys of the celluloid ballpark elected a new captain. His name was Irwin Allen and his product was the disaster movie. Only one of every 5000 people will ever experience an earthquake, fire, avalanche, sea wreck or airplane crash, Allen reasoned--why not give everybody the thrill of seeing (and feeling) it like it really...
...Reksten, 82, once one of the largest operators of independent oil tankers in the world; of cancer; in Bergen, Norway. He parlayed a modest 1929 investment in a cargo steamer into a tanker fleet worth $600 million. His fortunes ebbed when the 1973 Arab oil embargo caused a worldwide slump and left eleven of his twelve supertankers lying idle. In 1979 he was acquitted on charges of evading income taxes on $89 million in foreign earnings. Ironically, he made this year's Guinness Book of World Records for paying a larger percentage of his annual income in taxes...