Word: beared
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Dates: during 2000-2000
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Even before he was declared President-elect, George W. Bush had become bear in chief. For weeks he?s been warning that the U.S. economy is in for hard times. He may steer clear himself of the term recession. ?Possible slowdown? is one way he puts it. But dirty work is what Vice Presidents are for. So Dick Cheney has been sent out to say the forbidden word. As early as Dec. 3, he was on Meet the Press warning that the nation ?may well be on the front edge of a recession...
...paying. And George W., whose father had notoriously frosty relations with Greenspan, has gone out of his way to court the chairman. A few weeks ago, after their get-acquainted meeting in Washington, he even squeezed the uncomfortable-looking Greenspan on camera. But when you start talking like the bears, as Bush has been doing, maybe bear hugs are just what come naturally...
...Greenspan that gets blamed if those six tightenings ending last spring put the boom into convulsions, but the Fed chairman figures that a slowdown would be much easier to bear - and modulate - than, say, stagflation, and that he can always slash short-term rates in January and beyond if things look dire...
When Alan Greenspan merely suggested that he was open to the idea of cutting interest rates a couple of weeks ago, the stock market went wild: the Dow posted its third biggest single-day point gain; the tech-laden NASDAQ truly soared, rising a record 10.5%. Deep into a bear market, was Greenspan trying to stanch the slide...
WHAT THE MARKET WILL BEAR...