Word: walls
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Dates: during 1970-1979
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Rather than lose their posts-or worse -the mini-gang's three living members may only be stripped of effective power. One reason for this apparent leniency is that the crafty Teng may actually be aiming at targets much higher than Mayor Wu and the others. Some wall posters, believed to have been written by Teng's backers, complain, for example, about striking "blows only at low levels and not on top." That could only be an implicit criticism of Chairman Hua and his policies in the post...
Brokers know all about Wall Street's legendary selling panics, but whoever heard of a buying panic? That is precisely what swept the New York Stock Exchange late last week. In two incredible days of financial hebephrenia, the cavernous trading room echoed with delirious shouts and yells so loud that it was hard for brokers to talk to one another. After 15 months of steadily slumping prices, the market had taken a sudden and unexpected U-turn, sending short sellers, who make profits by betting on continued declines in stock prices, running for cover...
Stocks have been long overdue for a recovery. From almost the moment that Jimmy Carter moved into the White House, investors began moving out of the market. As the slide has continued, Wall Street has begun to look more and more like a bargain basement just waiting for shoppers. Last week they came pouring in, driven by random pieces of upbeat economic news (a slowdown in the growth of the money supply, a hefty increase in industrial output during March, a firming dollar overseas) as well as a juicy-though unfounded-rumor that Exxon Corp. had struck...
...drew in money from abroad. Foreigners were particularly intrigued by the oil-strike rumor, which suggested to them that the U.S.'s energy problems would be eased and the dollar would regain its stature. With some $400 billion in greenbacks now in foreign hands, an overseas rush to Wall Street would send stocks up sharply. Whatever happens next, the market's behavior last week ought to give Washington some idea of how investors are prepared to respond if the nation ever gets a sensible energy program and an effective policy to fight inflation and prop the dollar...
...million people went to it; one may assume that on its tour of Boston, Chicago, Dallas and New York City in 1978-79, that figure will be exceeded. The exhibition, which opened last week at the Boston Museum of Fine Arts, includes more than 300 objects, from encaustic wall paintings to bronze figures, pots and glass, on loan from the National Archaeological Museum of Naples and the Pompeii Antiquarium. There are even two plaster corpses, dog and man, eerie and Segal-like in their necrotic beauty. Short of a trip to Pompeii, the show gives the best view of life...