Word: beginning
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Dates: during 1970-1979
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...outsider who seemed to understand this best was Israeli Premier Menachem Begin. Last week he pointedly expressed his own concern for Sadat's "isolation" and said, "We should like to help President Sadat as much as we can." That offer was more striking in light of Begin's own peace-related problems: a major political row between his Likud coalition government and the Labor opposition and an angry split in his own Cabinet...
...best, by slashing $1.5 billion in government spending, including $650 million from the defense budget. At that, Defense Minister Ezer Weizman, who has been seeking a 40% increase to defend the narrower peacetime borders, angrily bolted from the Cabinet meeting. Opposition leaders demanded that Ehrlich resign, and Begin was forced to postpone the ministerial vote on the plan. Nor was that all. At week's end the mercurial Weizman also rapped Begin's proposed plan for Palestinian autonomy and threatened to quit the Israeli negotiating team...
...economists' forecasts, which are strikingly similar for a group with such diverse philosophical views, call for a mild recession to begin in the summer. It is even possible that a recession has already begun. More likely, notes Beryl Sprinkel, executive vice president of Chicago's Harris Bank, "the economy is slowing in a pattern that is typical of a prerecession peak...
...Interest rates are nearing their peak, and, though they will continue to rise for the next month or two, they will begin to level out or decline by summer...
...cause overall interest rates to turn down. The economists expect the banks' prime lending rate to rise from the present 11¾% to 12½% or 13% in early summer, and then decline, perhaps sharply. Thus, the stock market should rise later this year. Wall Street rallies often begin during recessions...