Word: stocking
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...Bank of Japan. Even so, Japan's banks, which were in the process of repairing their balance sheets, were extremely reluctant to lend. Thus, even though interest rates were low, the economy weakened. Prices for pretty much everything declined, following a bust in the real-estate and stock markets in Japan. The country entered a decade of stagnation. (See pictures of the Top 10 scared traders...
...long will it be followed? "Risk gets forgotten in all bubbles," says Peter Bernstein, an investment adviser and the author of Against the Gods: The Remarkable Story of Risk. "We've been down this particular road before." Indeed, we have. After every other trauma--the 1987 stock-market crash, the savings-and-loan crisis, the meltdown of the Long-Term Capital Management hedge fund--boisterous, unchecked risk-taking eventually rushed back in. "In times like this, people do listen to risk managers," says John Hull, professor of derivatives and risk management at the University of Toronto. "The problem is, times...
...Forum of Regional Associations of Grantmakers in Washington. Growth has continued since then: giving circles have donated $100 million over the past four years. And the ragged economy may be accelerating the trend. In Cadillac, Mich., Laurie Melstrom formed a giving circle in early October--just as the stock market was swooning. "This economic downturn has a lot of people breaking out into a sweat," says the 54-year-old homemaker. "Yet everyone said, 'Count me in.'" Individually, the group's 10 or 12 prospective members can't make much difference, but together, she says, "we'll be able...
...these economic measures is a bill that will be presented to Congress this week, which would nationalize the private funds in which many Argentines keep their pensions - a move that should swing some $30 billion from private individual pension accounts into state coffers. The announcement sent Argentina's stock market plummeting, while the rush of depositors to convert their savings into dollars resulted in a 7% devaluation of the peso. The financial earthquake caused by the initiative has put the Argentine economy "in intensive care," says columnist Morales Sola...
There's a fine line between optimism and denial. The WilderHill New Energy Global Innovation Index, which tracks the stock prices of clean-tech companies, is down about 80% since the beginning of September. (By contrast, the S&P Index lost about 25% of its value over the same time period.) The cost of oil, which has driven much of the investment in alternative energy in recent years, has halved since the summer. And new green industries, like wind farms and solar-panel factories, are no less affected by the credit crunch than any other business...