Word: shriveling
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Dates: during 2000-2009
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...idea of historical cycles can be reassuring: what comes down must go up. However, great nations can shrivel and empires do come to an end. And America in 2009 also looks as if it could rhyme, uncomfortably, with Great Britain circa 1909. A hundred years ago, the British were coming off a proud century as the most important nation on earth. But during the 30 years between the beginning of World War I and the end of World War II, the United States emerged as the unequivocal world leader, and Britain became an admirable also-ran. Applying that template...
...everything else." Congressman Trent Franks of Arizona was very concerned about anti-missile defense - a gold-plated pipe dream, if there ever was one - and especially a product dramatically called the Kinetic Energy Interceptor. To which Gates replied, in a manner so casually dismissive that Franks seemed to shrivel in his seat, "I would just say that the security of the American people and the efficacy of missile defense are not enhanced by continuing to put money into programs ... that are essentially sinkholes for taxpayer dollars." (See pictures of the U.S. Army Reserve...
...speculators are back - but they've changed; he has investors up North who are buying houses sight unseen, for cash. (The conditions? No mold, no Chinese drywall.) And then there are the newly pissed off and liberated: the guy in his 40s who's tired of watching his IRA shrivel, who calls and says, "I'm coming down," who wants six houses at $50,000 each, nice flat homes that he can rent to people who are sick of shoveling snow or climbing stairs. That's less than the land used to sell...
...someone who is expected to meet with Hillary Clinton during her first trip to Asia as U.S. Secretary of State, Japanese Prime Minister Taro Aso appears to be a host not yet ready for the party. Japan's economy continues to shrivel, the government remains gridlocked as elections loom, and public approval for Aso's administration is plunging. Even influential former Prime Minister Junichiro Koizumi is criticizing Aso's performance, though both are members of the ruling Liberal Democratic Party...
...Still, no one's suggesting the hedge-fund industry will start to shrivel until it is once again the size of a cottage industry. According to HFR's composite index, hedge funds since 1990 have produced an average annual return of 13.94% (after fees) compared with 10.9% for the S&P 500 - and they delivered that higher return with half the volatility of the S&P 500. If similar results are maintained, the industry will continue to attract billions of dollars from institutional investors. Even during the subprime turmoil, Read of CalPERS said it never crossed his mind to write...