Word: gear
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Truth is, I missed the revolution. When a few hundred students were routed from University Hall by Cambridge constabulary in riot gear on the night of April 9 and 10, 1969, I was extending my spring vacation to visit pals in Princeton...
...students voted in the truncated Undergraduate Council referendum this week, our duly selection representatives kicked their electoral juggernaut into high gear. Anyone who passed through Tercentenary Theater Thursday morning was treated to the rather persuasive endorsement of a sign emblazoned with the message "Vote Yes on U.C. Referendum." Its bearer embodied all the credibility of our august representatives--a fellow in an ape suit...
Dressed in riot gear, the police officersbarreled through groups of students that hadsurrounded the building...
Fourteen hours after the protesters escorted the administrators out of the building, the president called in a police force of about 100 officers from local suburbs. They arrived at about 4 a.m., armed with riot gear and ready to use force...
...another smart guy (Robert Rubin) advising the President -- who's damn smart himself. All of this bodes well. But the stock market in the short term doesn't care about any of that. It cares mainly about interest rates. You can argue that with the economy finally in gear, commodity prices and labor costs will begin to edge up. (Could the Teamsters strike be a straw in the wind?) Then again, you can argue that with enormous global capacity, inflation (and thus interest rates) will stay in check...