Word: trading
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Dates: during 1990-1999
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Gore deserves credit for speaking his mind and refusing to pander to the union. It's just that he speaks his mind so badly. And despite the differences Gore and the union have had over trade, this was hardly the reception you'd expect party stalwarts to give a front runner so invincible that he's scared every Democrat except the former New Jersey Senator out of the race. Gore is rapidly locking up party support and endorsements (Senate minority leader Tom Daschle last week, House minority leader Dick Gephardt two weeks ago); his potential challenger from the left, Jesse...
Whatever his problems, Gore would not trade places with anyone else in the field. "He's out in an exposed position, revving up for a real campaign," says Squier, noting that Bush, for all his appeal, has been "unwilling to leave home. He is not strengthening himself for what is going to be a very rough-and-tumble campaign." Maybe. But while no one will ever make it through a modern presidential campaign without battle scars, it would help Gore if so many of his weren't self-inflicted...
...bombs, of a post-cold war approach to the world perhaps best enunciated by Leslie Gelb, president of the Council on Foreign Relations. In 1994, Gelb wrote that America's "main strategic challenge" in the world was no longer dealing with Russia or China or Germany or trade or loose nukes. It was managing the "teacup wars" of the world, "wars of national debilitation, a steady run of uncivil civil wars sundering fragile but functioning nation-states...
...allies are otherwise occupied. "There is a considerable amount of secret traffic going on through bordering Turkey and Jordan exchanging oil for food," says Dowell, "and the U.N. is looking the other way." Maintaining the current stalemate allows Saddam to survive quite nicely as a result of that trade, while at the same time he keeps considerable U.S. resources pinned down in his region. Why bother to upset the balance...
...role. Those things will persist. But our limitless affection for technology, blind faith in index funds and grossly underappreciated sense of stock-market risk are part of the equation too. And those things will pass. It was only 10 years ago that we stretched reason to justify Japanese stocks' trading at 70 or 100 times earnings--just ahead of that country's enduring recession. Today's most popular stocks trade in that range, and tortured explanations again pass for wisdom...