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The declining environment of the bears is the main theme conveyed throughout the novel.
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"Least favorites in a low-margin environment are Frontier, which is our most overvalued equity that underperforms in a declining margin environment, and Western, whose plans to raise over $1 billion in debt is expected to pressure the equity near-term in a low-margin environment".
These are merely the highest-profile examples of a declining business environment.
We do not think 5.2% is a long term sustainable UK operating margin in a declining volume environment.
But raising taxes when we're going into a declining economic environment is about as bad a fiscal and monetary policy as you can possibly have.
In the broadest terms, many of the investments that made money in a declining rate environment will no longer do so when rates are rising.
"We see no point in continuing to grow rapidly in a declining yield environment, where our main aircraft partner is unwilling to play its part in our cost-reduction program," Mr. O'Leary said in a statement.
"The issue on Knight Ridder from a stock standpoint is that it is a pure-play newspaper company suffering from the dual impact of higher prices and a declining ad environment," said Peter P. Appert, the Deutsche Banc analyst.
Mr. Medvedev always listened politely to Mrs. Merkel and other European leaders when they warned about the need to strengthen the rule of law but also confront the declining population, environment and infrastructure of Russia.
There's precedent for making money in a declining cost environment.
Biodiversity is widely perceived as declining, and environments as undergoing degradation, through rural population growth and resource use.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com