Word: stockings
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Dates: during 1980-1989
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Director Joe Giani presents Jesus and his followers as the punks and leafleters who hang out by Out of Town News, and the premise works extremely well. Jesus Christ wears penny loafers, the Jerusalem Temple sounds like the stock market and Mary Magdalene sports an "I Love Jesus" button...
Though Tokyo's stock market has long been among the most overheated in the world, featuring share prices as high as 64 times the value of earnings, Japanese investors were more wary than worried. "When a mountain is high," said Masao Maehara, a Nikko Securities official, "its ravines must be deep. We're seeing fluctuations, but the Japanese economy remains strong." Even so, future Prime Minister Takeshita faces the unhappy prospect of slower economic growth than the 3.4% previously anticipated for next year...
Nowhere did the chaos of Black Monday strike harder than in the tiny Asian entrepot. When the Hang Seng index dived 11% within hours on that day, the Hong Kong Stock Exchange simply vaporized, and Exchange Chairman Ronald Li closed it down for four days. When trading reopened last Monday, the value of shares plummeted an additional 33%, to about $50 billion, wiping out a year's gains. "This is not a stock market," said a furious Hong Kong local moneyman. "This is a poorly run casino...
British officials, who still rule the crown colony, cobbled together loans worth $512 million to support the financial center's imperiled stock-futures market. The Communist government in Beijing, which takes control of Hong Kong in 1997, was quick to pitch in $42.7 million for the loan package and was reported to be buying equities to help shore up stock prices. Colonial authorities are reviewing exchange rules, yet there are fears that the colony's reputation as a freewheeling but reliable financial center may be permanently damaged...
Just one year ago, the London Stock Exchange celebrated Big Bang, the introduction of computerized and deregulated stock trading. The anniversary last week was a Big Bath. Chancellor of the Exchequer Nigel Lawson complained that he did not know why London "should be following Wall Street quite so slavishly." Samuel Brittan, widely respected economic commentator for the Financial Times, ventured a prediction that the stock slump would clip half a point off Britain's 3.0% projected growth rate next year. Prime Minister Margaret Thatcher called for a healthy dose of budgetary realism in Washington, and Chancellor Lawson reminded tight-fisted...