Word: tradings
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Dates: during 1980-1989
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Though the majority of today's cruise-line companies are U.S.-based, their profits do little to ease Washington's foreign trade deficit, since few of their ships fly the American flag. Carnival's ships, for example, are registered in Panama and Liberia. Most liners carry such flags of convenience for economic reasons: the companies can avoid U.S. corporate taxes and hire low-paid foreign crews. That strategy has its drawbacks. Under an 1886 federal law, foreign vessels are not permitted to transport people between ports in the U.S. A foreign ship that sails from New York City, for example...
...anxieties about whether this new bear market would lead once again to a major recession -- or worse. As in 1929, many of the experts declared that the economy was fundamentally strong and predicted better times ahead. But the market recovered only a fraction of its October losses, the record trade deficits continued, and the dollar kept sinking. It was partly a question of public confidence, and the ebullient optimism that had helped to re-elect Reagan now appeared a thing of the past...
...Israeli sentiment within Egypt that a decade of peace has failed to dry up. Though Mubarak denounced Israel's "methods of repression and persecution," he resisted pressure from many of his countrymen and other Arab leaders to take stronger steps, including withdrawing his ambassador from Tel Aviv and breaking trade and cultural agreements...
...retrospect, Lynch kicks himself for not paying more attention to some ominous signs that were flashing in September. Despite the weak dollar, the trade deficit did not improve as hoped. The July figure, released in September, set a new record. Meanwhile, the prime rate that banks charge on commercial loans kept creeping up, from 7.5% in March to 9.25% in early October...
...Wednesday, Oct. 14, the stock market, shocked by disappointing trade figures, suffered its first big quake -- a record 95.46 drop in the Dow. That posed a dilemma for Lynch and his wife Carolyn, 41, a physical therapist. They had long been planning to leave on Oct. 15 for a trip to Ireland. "Should we do this?" they asked each other. But Lynch rarely took long vacations, and he was especially reluctant to cancel this one. Though his roots are as Irish as homespun Donegal tweed, he had never been to the home of his ancestors. Besides, could an avid golfer...