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...Like an aging athlete whose stomach muscles have turned to flab, U.S. trade shows a soft middle. Exports consist heavily of raw materials (coal, grains and soybeans, for example) and the high-technology output of the world's most research-minded corporations (computers, aircraft, electronics). Between those extremes, chronic trade-balance weakness is suffered by at least 122 manufacturing industries. Among them: steel, paper, food-and-drink, glass, textiles, apparel, lumber, leather, shipbuilding, autos, watches and sporting goods. In 1-966, those 122 provided 35% of the nation's industrial jobs, but they ran up a hefty...

Author: /time Magazine | Title: Trade: Can the U.S. Still Compete? | 5/10/1968 | See Source »

...inclinations. The pot high lasts more than four hours, is easily extended, and is not easily detected by those who should be warned of the partial incapacitation of the potted. The quality of the mind depends on the sum of experiences in judging whether information is reliable or false. Chronic exposure to conditions which produce hallucination must impart memory reference which may impair long-term judgment. Proof that pot is safe or harmful will require study of thousands of habitual users over long periods of time to achieve statistical validity. Proof of deterioration of the health of cigarette smokers...

Author: /time Magazine | Title: Letters: May 3, 1968 | 5/3/1968 | See Source »

...Boston, Jewish philanthropies donated buildings valued at $1,250,000 for a community and cultural center in the Roxbury slum. In Washington, Patrick Cardinal O'Boyle announced a moratorium on all new Roman Catholic church building and improvements so that funds would be freed to "help relieve the chronic causes of poverty in our midst." In Portland, Ore., the Council of Churches designated May 5 "Summer Crisis Sunday," when each congregation will be asked to provide decent jobs for slum dwellers and help provide support for summer programs...

Author: /time Magazine | Title: Nation: THE THING IN THE SPRING | 4/26/1968 | See Source »

Brutal Diagnosis. The need is urgent because Israel's economy has been ailing for months. During its early years of headlong economic growth-at average rates of 9% a year-Israel's imports raced beyond its exports, resulting in a chronic balance of payments deficit. To right the balance, the country in 1965 resorted to a tough dose of economic mitun (restraint), which slowed inflation, though at the cost of a standstill economy and mounting unemployment (now 8%) in Israel's 927,000-man labor force. Mitun was a casualty of the Six-Day War, as Israel...

Author: /time Magazine | Title: Israel: Help on the Way | 4/12/1968 | See Source »

...last week, is expected to raise $240 million of the $4 billion in fresh taxes provided for in Britain's latest austerity budget. By taking money from British pockets, the whole tax package is generally intended to dampen demand at home, thus help ease the country's chronic balance of payments deficit. The soak-the-rich character of the investment-income levy has the added political purpose of pleasing left-wing members of Harold Wilson's ruling Labor Party...

Author: /time Magazine | Title: Taxes: It Doesn't Pay to Have Money | 4/12/1968 | See Source »

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