Word: backe
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Dates: during 1970-1979
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...inflation outlook offers no reason for the Fed to pull back. Last week Carter's anti-inflation czar, Alfred Kahn, admitted that his earlier hopes for the nation to be out of double-digit inflation by next spring have been eliminated by increases in oil prices and mortgage rates. Kahn argued that inflation will not be brought under control so long as OPEC continues raising the cost of crude and the U.S. remains dependent on foreign oil. As a means of lessening that reliance, he said, the Administration had been considering a 500 per gal. gasoline tax and even...
...first signs of a "wait and see" attitude are appearing among some buyers who think that mortgage rates may soon ease back. Michigan Entrepreneur Warren Avis, founder of the Avis Rent A Car system, was quickly filling a 120-unit condo conversion in Detroit last month, but saw many of his customers vanish as mortgages rocketed. Says he: "All of a sudden we got slugged in the guts. The last four weeks have broken the back of buying...
President W. Paul Tippett Jr. of American Motors Corp. used to joke that his company actually had a three-word name: "Ailing American Motors." Now Tippett and his colleagues are laughing for a different reason. AMC has pulled back from the brink yet again, chiefly by cutting its work force, consolidating its plants and concentrating on a few small cars and specialized vehicles...
Although he charted the symptoms of the Age of Anxiety, Auden never seemed to have more than a mild case. His loss of faith in the Anglicanism of his childhood, his later disillusionment with Communism, his conversion back to Christianity were accomplished with no public hand wringing and left no visible scars. His emigration to the U.S. in 1939 raised charges that he had cravenly abandoned England's sinking ship; he stoically endured the abuse...
...drinking. His remarkable face became a relief map of a ravaged land; Auden said he looked "like a wedding cake left out in the rain." Osborne does not flinch from presenting such evidence, but neither does he seem to know what to do with it: "On the Atlantic crossing back to England, he was uncharacteristically miserable, and on one occasion burst into tears, confessing to Isherwood that he could never find anyone to love him and that he believed himself to be a sexual failure. Arriving in London on 17 July, they went that evening to the theater...