During the depths of the 2008 crisis, when it looked as if the bottom might really fall out of the Russian economy, a large number of (in retrospect totally unfeasible) proposals for radical economic liberalization were bandied about but little ever came of them.

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So even if oil prices remain below their 2006 levels, nobody expects the bottom to fall out of the economy this year.

ECONOMIST: Venezuela

So when the bottom seemed to fall out of the precious metals market on May 12, did any of these macroeconomic factors change?

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When Wall Street went into meltdown last fall, the bottom fell out of the exotic-instrument market, and many of Harvard's private-equity investments proved to be unsalable--that is, worthless, at least temporarily.

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Joe Kinnear, confirmed as Newcastle manager until the end of the season 24 hours before kick-off, will be happy with a point that takes them out of the bottom three of the Premier League as arch-rivals Sunderland fall into the drop zone.

BBC: Middlesbrough 0-0 Newcastle