Word: controllers
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Dates: during 1960-1969
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STEPS to restrain an overgrowing economy and control inflation never begin to take effect for at least six months. Paul McCracken, the President's chief economist, rather charitably calls that tense period of waiting and watching "the awkward months." Last week, seven months after Washington's policymakers set the anti-inflationary course of tight money and tough budgeting, there were indications that the economic slowdown is starting...
...chilling similarity to the 1966 plunge, when the index declined 25% from February to October. Could history repeat? Both market slides began with worries about overspeculation and increases in bank interest rates. There are, however, important differences. In both 1966 and 1969, the Federal Reserve Board tried to control the expansion of credit by restricting the money supply. But in 1966, the board moved clumsily, swerving at midyear from monetary expansion at a 6% yearly rate to contraction at a 2% rate. Credit evaporated, investor buying power disappeared, and stocks collapsed. This year the money supply has expanded...
...seen it myself.' " Next, "the crazies," identified by "their diseases (mainly venereal), their health (decayed from malnutrition and drugs) and the disturbances, rarely dangerous, of their minds." Then "the innocents [whose] morality urges them to stand witness for a cause." And finally, "those who seek to control, to move, to marshall [the crowd] into an unthinking mass of bodies...
...Cambridge Rent Control Referendum is virtually certain to have enough valid signatures to get its petition for rent control onto Cambridge's November 4 ballot...
...rent control ordinance which the petition supports would freeze rents in Cambridge at January, 1968 levels, although rent increases of up to eight per cent to meet increased costs could be made with the approval of a rent control board...