Word: steepest
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...chief cause of the current crisis is what Tucker calls "some of the steepest drops in land values ever." In just the past year, farm real estate values plummeted $100 billion partly because large food surpluses and depressed crop prices have made agriculture less attractive. Lower land prices have been devastating to the FCS because most of its loans are real estate mortgages, in which collateral is now greatly eroded...
...thrift depositor in Pittsburg, Calif. "I'm wondering what's happening to our whole financial structure." The concern showed up dramatically in Pollster Albert Sindlinger's weekly survey of consumer sentiment. The percentage of people voicing confidence in the economy fell in one week from 50.4% to 42%, the steepest drop in the poll's 30-year history. "I wouldn't say consumers are panicked," said Sindlinger, "but they are shocked. They expect many more banking problems...
...optimism in the financial markets was tempered by worries about the fate of the dollar, which last week gyrated wildly. At first, it took off on its swiftest, steepest climb since 1978. By Tuesday afternoon it had risen 2% against the West German mark and the French franc and more than 3% vs. the British pound, which sank to an all-time...
...announcement, the British pound fell to a record low of $1.19. Shaken by the skidding currency and a possible worsening of the country's coal miners' strike, traders on the London Stock Exchange sent the Financial Times industrial share index to its steepest one-day loss in history...
...downturn in the economy, we should do what is necessary to remedy this. But you have to realize that the cost of such action can be renewed inflation." A jump in food costs brought on by bad weather caused the consumer price index to jump .6% in January, its steepest gain in nine months, but most economists remain hopeful that inflation will stay moderate this year...