Word: boom
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...problem is that a stock-index futures contract is neither commodity nor security. Rather, it is an unusual hybrid, born during the financial-invention boom of the 1980s, that involves taking a position on the future price of a group of stocks, typically the Standard & Poor's 500. The CFTC first won jurisdiction over the instruments in a bitter tussle six years ago, but the SEC has been looking for a chance to gain control over the fast-growing market ever since. Last week the SEC made its move. In testimony before the Senate Banking Committee, SEC Chairman David Ruder...
...other's gleaming indignation. Not a molecule of coherent information emerged from the encounter -- except the encounter itself. The medium is the message, in Marshall McLuhan's famous dictum. Bush afterward compared the exchange to combat, but if so, it was the combat of Saturday morning cartoons: Bang! -- Poof! Boom! -- Poof! Language disintegrated on impact. When Bush slugged Rather with the line about Rather's once walking off the set of the CBS Evening News, the anchorman looked for an instant like Wile E. Coyote when, gimlet-eyed, he understands he is about to plummet into the abyss...
...under the direction of Gillian Armstrong (My Brilliant Career, Mrs. Soffel), the lead actresses have an honest naturalism that almost makes us forget the coincidences and arthritic manipulations of Laura Jones' script. But instead of calming our suspicions, Armstrong's camera work -- all zip pans, fast tracking and erratic boom shots -- reinforces them. Maybe she should take phlegmatic lessons from Jack Clayton...
...rigid socialist controls has let new businesses emerge. Previously shuttered stores have reopened with fresh supplies of furniture, clothing and shoes. People can once again buy and sell prawns on the open market. The arrival of a shipload of Soviet cement late last year set off a modest building boom. "There has been no change in our overall aims," asserts Trade Minister Manuel Aranda da Silva. "But you can say that Frelimo has grown up and is now more mature." That growth will be hard to sustain, though, while the government fights for survival and nearly half its people cannot...
...address that the President prepared to deliver this week was less a stirring aria than a medley of his greatest hits. It includes a ringing anthem to the Reagan revolution: the tax cuts -- including a call for new reduction in the rate on capital gains -- the five-year economic boom, the resurgence of patriotism. Then the President also planned an ode to the Nicaraguan "freedom fighters." And of course there was a section of budget-deficit blues, a put- the-blame-on-Congress thumper ending with that ancient standard: the call for a line-item veto...