Word: 1970s
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Dates: during 1970-1979
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Arafat's triumphant welcome in Tehran was something of a shock, but it is no great surprise that the P.L.O. and the new Iranian government should be the best of friends. Ever since the early 1970s, Palestinian groups have been giving aid, training and arms to Iranian dissidents. It was the Shah of Iran who sold oil to the Israelis, who used it to power the tanks and planes that were fighting the Palestinians. Thus the Iranian enemies of the Shah became the Palestinians' natural allies. A number of them have fought with the guerrillas in southern Lebanon...
...fact, the 1970s have already seen one of the most spectacular gold rushes ever. This reflects a panicky flight away from paper assets−stocks, bonds, money itself−and back to the enduring luster of one commodity that neither corrodes nor tarnishes but seems in a sense to be the embodiment of immortality...
True enough, the 30 stocks in the Dow Jones industrial average have not performed nearly so well as gold in the 1970s. They have lost close to 8% in value. But that hardly means that gold, which pays no dividends, would have been a better play. It was illegal for Americans to own gold until 1975, and by that time foreign speculators, anticipating an immediate rush into gold, had bid it up to nearly $200 per oz. At that level, investors remained wary, and within a year the metal slumped to about half its value. Meanwhile, the Dow Jones average...
...number of jobs has risen by more than a third during the 1970s, and unemployment in the past year is down from 4.1% to 2.9%, which is about as low as it can go in America's highly mobile society. (The national average is 5.8%.) Business leaders are eagerly advertising around the country for more skilled workers. If any butcher, baker or engineer wants a job, he or she will have no trouble finding it in this bustling producer of meat, wheat, planes...
...Euroblood traffic began in the early 1970s when many U.S. cities began reducing their purchases of blood from paid donors, often Skid Row derelicts, for fear of spreading hepatitis. To replace these old sources, Dr. Aaron Kellner, director of the New York Blood Center in Manhattan, decided to turn for help to Europe, notably Switzerland, West Germany and Belgium, which had blood to spare because of their different approach to blood collecting...