Word: bottomly
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Dates: during 1970-1979
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...fashionable Paseo de la Reforma. It was early Saturday morning, but drunks were already weaving their way down the slope from a little clandestine tavern selling pulque, a cheap but potent drink that the Aztecs used during religious ceremonies. The people of El Trotche are at the bottom of Mexican society, which calls them paracaidistas (paratroopers) because they seem to parachute out of the sky onto any vacant piece of land. Then, like an army of ants, they hastily erect their little jacales-shacks literally made of rubbish...
According to Halberstam, the man most interested in the bottom line is CBS Inc. Chairman William S. Paley. In the early days of TV, Paley gave his news team free rein and approved a plan to expand the evening news. But as television audiences-and the cost of advertising-grew, the inevitable drive to improve profits led Paley to increase the number of popular entertainment shows. The distinguished weekly documentary See It Now with Edward R. Murrow, for example, was often shunted from one time slot to another and finally canceled. Paley, says Halberstam, found it too controversial...
...recovery that is likely to be produced by "steady as she goes" policies bears no resemblance to anything that could be called a boom. If the forecasts are correct, unemployment a year from now will still be as high as it was at the bottom of some earlier recessions, and the inflation rate will be at a level that would have been regarded as intolerably high in most previous years. Indeed, at almost any time before 1974, predictions of 7.7% unemployment and 6.6% inflation would have seemed a forecast of disaster. That they are now prophecies of significant improvement...
...recession hit bottom in the spring. By May, retail sales began to move up smartly; by June, unemployment began to drop slowly. For the second quarter, real G.N.P. squeezed out a gain at an annual rate of 1.9%. That ballooned to 13.2% in the third quarter, as businessmen at last cleaned out swollen inventories and began filling orders from new production. The sell-off gave the economy a one-shot lift; the rate of production growth is widely expected to drop back to about 5% in the current quarter-an anticipated development and no cause for alarm...
...they are appearing in Europe, too. They are confined to a few key indicators (auto sales, appliance and consumer buying) and are most evident in two key countries: West Germany and France. Nonetheless, says Italian Economist Luigi Spaventa, voicing a general European view, "I expect we've hit bottom. Now it depends on how long we keep crawling along down there...