Word: triggers
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Dates: during 1980-1989
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...dollar should be allowed to decline as far and as fast as it will." But that course runs a gigantic risk: a free- falling dollar could easily touch off a panic flight of foreign capital from the U.S. That is about the last thing anyone wants, since it could trigger a worldwide financial collapse. It would be much better to renegotiate the Louvre accord to allow a gentle, managed decline in the dollar. As part of such an agreement, foreign nations would have to lower their interest rates, so that they would not bid against the U.S. for international capital...
...budget summiteers could also save an estimated $24 billion in the next three years by freezing the annual cost-of-living adjustments for Social Security payments. That is not likely: just last year, when the Consumer Price Index failed to rise by 3%, the amount necessary to trigger a cost-of-living increase, Congress went ahead and voted an $8.6 billion hike anyway...
...investors are determined to panic, computers can sure help. A few keystrokes into a broker's desktop computer can trigger the sale of thousands of shares of, say, 500 different companies. Such "program trades" may have played a role in making Black Monday the worst day in Wall Street history. As one Chicago broker joked, the difference between 1929 and 1987 is that last week, it was the computers that jumped out the windows...
...There have been accusations that your remarks about interest rates were ill-timed and helped trigger the Monday crash. Is that...
...finance American profligacy, and the stock-market crash was a relatively mild foretaste of what could happen if they pull their money out. The nation would then face a grim choice of financing the deficit by ruinous printing-press inflation or a sudden, brutal cutback in spending that might trigger a real economic bust...