Word: walls
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Dates: during 1990-1999
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Once it was easy to pass over a story like David Thibodeau's. He says he saw the shiny thing embedded in a wall of the chapel in the Branch Davidian compound, where he took refuge with fellow believers. It was the middle of a lull between government tear-gas assaults, and in the calm, Thibodeau studied the thing. "It was the size of a Coke can," he says. "Silver, stainless steel in color. There were three fins on the back. It was some kind of projectile." Before he could look more closely, however, the screech of tanks started...
Throw another burger on the grill, Martha. Just in time for Labor Day, some surprisingly good labor news sent Wall Street traders off to the Hamptons happy. After spending a glum week worried that a string of less-than-positive economic numbers would spook the Federal Reserve into yet another rate hike in October, traders were wishing and hoping that the August unemployment numbers would show that inflationary pressures had already been brought to heel. The news was even better than they hoped: Unemployment was down, but not too much, and hourly wages were up, but by just pennies...
...blame for the surge in margin debt? Aha. Some responsibility goes to Federal Reserve boss Alan Greenspan, who complained as far back as 1996 about the market's "irrational exuberance." Yet it is within his purview to raise margin requirements above the current 50%. However, that might tick off Wall Street, which earns more than 8% interest on margin loans. (Brokers are free to raise requirements on their own, and some have.) No Fed chairman since 1974 has moved to lift the limit. Individual investors--and not just day traders--also share part of the blame. Intoxicated...
...Russia and published in France in 1973, it was as if a stake had been driven through the heart of Marxism. It was only a matter of time before the body and the tentacles rotted away, a process that became obvious on Nov. 9, 1989, the day the Berlin Wall came down. Only China and a few morbid extremities--Tibet, Mongolia, Vietnam, North Korea and Cuba--still hold on. --Tom Wolfe, author...
...most important was Adolf Hitler. Hitler's ideological war on the Soviet Union devastated Europe. After Lenin's death, his followers in Europe, Asia and Africa created other Bolshevik regimes that propagated regional wars, fostered terrorism and destroyed economies. Not until 1989, with the fall of the Berlin Wall, was Lenin's malign influence definitively reversed. Its aftereffects will persist into the 3rd millennium. --John Keegan, historian...