Word: stockings
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Dates: during 1980-1989
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...this fall have gone aglimmering: the appointment of Robert Bork to the Supreme Court, the hope to win renewed funding for the contras in Nicaragua, and his aim of pushing through a budget plan that would protect defense spending without raising existing taxes or imposing new ones. The stock-market plunge only magnified his new aura of ineffectiveness. Through it all, he and his aides were hoping for a grandly choreographed summit with Gorbachev to salvage a bit of Reagan's public luster...
Shortly before the stock market opened on Meltdown Monday, Albert Gore was on the phone to a broker. The long-shot Democratic contender was not selling short in anticipation of the wake on Wall Street. Rather, Gore was searching for political portfolio insurance: reliable information about the direction of the markets. All presidential candidates were similarly affected by ticker shock during a dizzying week in which requests for quotes sent aides scurrying after the Dow Jones industrial average rather than Bartlett...
...bearish rout on the stock exchange turned facile assumptions about the 1988 race into so much bull. It silenced complaints that the campaign was devoid of cutting issues and dashed Republican hopes of an election predicated on the Reaganite themes of stability and prosperity. The political futures index tilted toward the Democrats, as mayhem in the markets revived fears of recession. Four times in this century the Democrats have regained the White House following a Republican incumbency, each time against the backdrop of a sharp economic downturn...
Every presidential election is shaped by a handful of events that resonate with the electorate. Last week's wild-on-the-Street gyrations of the stock market are likely to become just such a political symbol, playing on voter fears that the economy has been held aloft by illusion. As Democratic Pollster Geoffrey Garin puts it, "We've seen over and over again in focus groups that people have had a sense of huge bills coming due, with no one knowing how to pay them." The market collapse, he argues, "becomes a defining event for 1988, because the potential...
...Pont. As investors turn away from a free market, this stock lacks the chemistry of its corporate namesake...