Word: coasters
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...year after its introduction, Volcker's new monetary machinery is still full of bugs. Both money growth and interest rates have been on a twelve-month-long roller-coaster ride. At first, the cost of money soared; the prime rate for leading corporations rose from 15¼% to 20% by last April. The money supply then dropped precipitously, actually declining at an annual rate of 2.4% during the spring. At the same time, economic output dropped at a 9.6% annual rate, its steepest quarterly slump on record. Then in the summer, the Fed reversed course and began frantically pumping...
...levels of 20% or more, and the nation pitched into recession. By spring, the sky-high cost of money was threatening to cause a severe slump; the Fed then switched course and began pumping money back into the economy. Since then the money supply has been on a roller coaster ride of weekly gyrations, with the nation's central bank struggling to smooth out and steady the growth of money...
...rise of anti-Western Islamic militancy, the instability of the gulf states,* the explosiveness of the Arab-Israeli conflict and the buildup of Soviet power have generated intense anxiety, even some apocalyptic pessimism among Western statesmen. "We are on a roller coaster to disaster," said Henry Kissinger in congressional testimony last July. "Our future is now at the mercy of a precarious political status quo in what is probably the most volatile, unstable and crisis-prone region of the world...
...Fuller's hardline anti-Commie stand lost favor after the McCarthy era. For nearly two decades, he has been noisily chomping his ever-present cigar in frustration, desperate to make the war film he always wanted to make, to prove that he had survived the roller-coaster life in Hollywood as well as the battles in Europe...
...Fuller's hardline anti-Commie stand lost favor after the McCarthy era. For nearly two decades, he has been noisily chomping his ever-present cigar in frustration, desperate to make the war film he always wanted to make, to prove that he had survived the roller-coaster life in Hollywood as well as the battles in Europe...