Word: stockings
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Dates: during 1990-1999
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What about the chances of a genuine recession? None of the economists on TIME's board would flatly predict one, but none would rule it out either. If the "Asian financial flu" infects Latin America and Canada, if a renewed plunge in U.S. stock prices scares consumers into slashing their spending, and if the Federal Reserve Board fails to make deep enough cuts in interest rates--why, then, a growth recession could turn into the real thing...
...sounded disarmingly like eugenics and Hitler's notion of racial superiority. And so society welcomed psychotherapy, with its egalitarian tenet that we are all "brothers" whose personalities are shaped (or misshaped) by our surroundings. As Dolnick observes, "Level-headed men and women occasionally succumb to giddy excitement over the stock market or the million dollar prize." Or psychoanalysis...
...Scalfaro may opt for a technocratic manager from outside of politics to form a caretaker government until the next elections. Italy has seen this all before -- at two and a half years, Prodi's tenure was Italy's second longest in postwar history -- which may explain why Milan's stock exchange climbed despite the government's collapse...
Many of the universities affected by the market fluctuations have investments in emerging international markets, domestic stock and hedge funds--three areas hit hard by the market plunge...
...capital. "There's growing agreement on the need for some form of restriction on the movement of short-term 'hot money,' because its volatile movement in and out of developing countries creates massive instability," says Baumohl. That news, and the IMF's impasse, won't generate much enthusiasm on stock markets. But Baumohl reports that "there's talk, once again, that the G-7 countries and most of the European Union plan to announce a coordinated cut in interest rates by the end of the year." And that would be the stock market equivalent of a shot of Viagra...