Word: thursdays
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Dates: during 1990-1999
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Fortunately for Boris Yeltsin, tales of corruption are a big yawn in Moscow. An Italian newspaper on Thursday accused Russia?s president of taking bribes, while USA Today alleges that he presided over a $15 billion money laundering scheme. But the allegations are unlikely to dent Yeltsin?s already negligible popularity. "The Russian people are suffering scandal burnout," says TIME Moscow correspondent Andrew Meier. "Some of these allegations have long been aired in the Russian press ? although they?re dismissed by the Kremlin. Charges of corruption at the highest level don?t have much shock value in this country...
...Russians actually recaptured them," says Meier. "In fact, Russian forces spent two days shelling empty villages. The rebels retreated in the face of superior firepower, but they haven?t gone far; this is not over." Indeed, as Russian forces pursuing the retreating rebels bombed villages in neighboring Chechnya Thursday, Moscow risked reopening an even wider conflict...
...Those skeptics include the lawyers bringing a wrongful-death suit against the government, backwoods militia types (who love to talk about a tape that supposedly shows the FBI using a flamethrower on the compound) and of course Republicans. Thursday, with Republican supersleuth Dan Burton champing at the bit in the House, and Senate FBI watchdog Charles Grassley calling Coulson?s admission "a serious development in terms of further erosion of the FBI's credibility," a suitably peeved Attorney General Janet Reno hurried to get the official ducks back in a row. "The important thing is to keep going until...
...that Greenspan is good. Just two days after the Fed chairman raised interest rates to tap the economy?s brakes just a little, it?s already slowing down. The Commerce Department reported Thursday that GDP growth from the April-to-June quarter was actually 1.8 percent, instead of the 2.3 percent the government had estimated a month ago. In reality, of course, that has nothing to do with Tuesday?s action ?- even with a strong market reaction, an interest rate hike takes at least six months to reverberate through the economy ?- but it?s sure got plenty to do with...
...says TIME senior economics reporter Bernard Baumohl (although that wasn't immediately reflected in the market, which took profits from Wednesday?s record close). "This takes even more pressure off the Fed to raise rates again anytime soon; the economy seems to be slowing down just as it hoped." Thursday?s report isn?t a guarantee, though. Most of the slowdown was due to the trade deficit; imports aren?t counted in the GDP, although they do show up in the overall economy when cash-loaded consumers head to the mall. So inflation could still be lurking in the heart...