Word: bigs
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Dates: during 1970-1979
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...spectacle last week of the two big Communist powers, China and the Soviet Union, at each other's throats on the brink of a possible shooting war?with the U.S., their once common adversary, passively standing by?bordered on a global Theater of the Absurd. After some initial confusion, the increasingly fragmented international Communist movement swung overwhelmingly against China. In Eastern Europe, independent Yugoslavia maintained its customary neutrality. Maverick Rumania appealed to both sides to "stop military actions immediately." The rest of the Warsaw Pact countries, predictably, supported Moscow in condemning what Bulgaria called China's "adventurous and aggressive actions...
This time, Big Daddy may really be on the ropes...
...fuel depot in Kampala. Says Kuli: "I cannot say to the day when Amin will go, but it will be within six months. I am perfectly willing to die. I have nothing to live for but to kill Amin." This time, many others appear to share the view that Big Daddy's swaggering days may indeed be numbered...
...economy drifts down, the present extremely strong hunger for consumer, mortgage and corporate credit will also ease, causing interest rates to fall. The prime rate on loans to big companies should move down from a peak of 12½% this spring to 9½% a year from now. The general lessening of demand should make a dent in inflation. TIME'S economists expect consumer prices, which surged 9% last year, to go up 8.3% this year and 6.8% in 1980. That certainly would not amount to victory over inflation, but at least the trend would be favorable...
Last week two more oil majors, following the lead of Exxon and Texaco, announced that they were gloomy enough over the continuing world oil shortfall to begin rationing fuel to big customers. Phillips Petroleum and Shell, the nation's largest gasoline seller, have either cut refinery output or reduced dealers' delivery allocations; the cuts range from Shell's maximum of 8% to Phillips' much more drastic 30%. And the reductions could get worse. "After the second quarter, it's anybody's guess what will happen," says an Exxon spokesman...