Word: tradings
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Dates: during 1980-1989
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...party's over in the world economy." Italy may export truffles to France, but these days it also imports its eggs, milk and even its breadsticks. Worse, the cheap dollar means that Italian shoe and clothing exports are not selling very well in the U.S. Moreover, Italy's trade deficit this year, at more than $6.6 billion, is already twice the 1986 level...
...until this year, for bringing inflation down much too fast. Under Volcker, writes Greider, the "Federal Reserve was determined to drive the rate of inflation lower and lower, regardless of other consequences." The consequences, in Greider's opinion, were an unnecessarily severe recession in the early 1980s, a huge trade deficit and the debt burdens that still plague the economy...
...assist from Uncle Sam. Farm income has increased at least 12% in 1987, to a projected $42 billion. Meanwhile, the amount of debt that farmers owe has dropped an estimated 10%, to $158 billion. Even agricultural exports, which have been too low in recent years to help the U.S. trade deficit much, are improving. Spurred by the falling dollar, overseas sales of farm products are likely to rise nearly 6.5% this year, to $28 billion. Says Agriculture Secretary Richard Lyng: "Over and over again, we get a feeling that things have turned around...
...much doggery? Kitty Brown, editor of Animal Entertainment, a New York City trade publication, thinks the answer has a lot to do with the mood of the late '80s. "Times are tough," she says, "and we need a little innocence, something that hearkens back to childhood." Others might say that Hollywood hearkens to money: if one dog movie cashes in, ten imitations sprout up within a year...
...about pirating talent. "It's not unusual to receive a call offering a package of six partners from another firm with a promise of $10 million of business," says Chairman Alex Forger of Manhattan's Milbank, Tweed. Meanwhile, by publicizing balance sheets and pay scales throughout the profession, aggressive trade publications like the American Lawyer, the National Law Journal and Legal Times have awakened ambitious attorneys to the greener pastures they might enter by jumping to a rival firm. Says Jonathan Spivak, who heads a Washington legal search firm: "It's like baseball. You go where the money...