Word: 1970s
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Dates: during 1970-1979
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...them some degree of local autonomy. How long the accord would last was uncertain. A proud mountain people whose kinsmen fan out across the border into Iraq, Turkey, Syria and the Soviet Union, the Kurds have been in rebellion against their overlords in Tehran for generations. During the early 1970s, the Shah aided the Kurds, who were fighting a guerrilla war to gain autonomy for their sector of northern Iraq. The U.S. tacitly backed the rebellion, encouraging the Shah to supply the Kurds with arms and matériel...
There is much to be said for the widely held thesis that the U.S. will be gripped by both stagnant growth and roaring inflation through the next decade. This could be the grim legacy of the profligate, overregulated 1970s. In the current indulgent decade, the U.S. has spent too much and saved too little. It has spent too much of its wealth on immediate gratification and too little on investment for the future, too much on Government uses and not enough on private uses, too much on easy imports of energy from afar and not enough on hard-slogging development...
...needed is for the politicians to catch up with the people, to challenge them to accept some measures that might reduce special privileges for narrow-interest groups in order to enhance growth for the broad majority. If the U.S. continues to reverse some of the debilitating trends of the 1970s, then the 1980s could well become a brilliant decade for a nation that still has so many unmet needs-and so much potential for fulfilling them...
...decline in price. So where is the perplexed American investor to park his extra cash and protect its value? Certainly not in a savings account. Had Phineas T. Barnum lived today, his famous dictum might well have been: There's a saver born every minute. In the inflationary 1970s, savers are suckers who stand to lose. If inflation should continue at February's 15.4% rate, every dollar put into a bank at 5¼% interest will become 91.4? in real money a year from now-and a lot less than that after taxes are paid on the interest...
Seeing all this, businessmen are coming to the conclusion that burning coal is just asking for trouble. Since the annual growth of U.S. electric energy consumption has slowed from nearly 7% in the early 1970s to little more than 4% now, utilities are scrapping or deferring plans for new generating plants...