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...economists had slightly differing interest-rate outlooks. Charles Schultze said that a fairly strong economic recovery could cause a new surge of credit demand that might send the prime rate back up again. On the other hand, Walter Heller predicted that while short-term rates like the prime might creep lower a bit, a further cooling of inflation would result in somewhat lower long-term interest costs throughout next year...

Author: /time Magazine | Title: Which Way for Interest Rates? | 9/27/1982 | See Source »

...announcer in a broadcast beamed across the United States the next day. "The Pittsburgh steel smelter, the California farmer...and the Harvard student, you may be drafted and sent to the front." No other American university was mentioned in the ominous warning which continued: "The flames of war may creep in from the Caribbean and engulf your home...

Author: By Paul M. Barrett, | Title: Cuba 20 Years Later | 9/13/1982 | See Source »

Judith Hart, a member of Parliament, recently described the role of unions nicely: "...the trade union movement in this country is part of our democratic inheritance, fought for in hardship, established in realism." It's time for some of that realism to creep into government policy towards labor both here and in Britain before both economies get even worse...

Author: By John D. Solomon, | Title: Open Season on Labor | 9/13/1982 | See Source »

...soap operas. Dwarfish but with a melodious voice that has listeners imagining a movie idol, Camacho spends all his waking hours writing, directing and acting in his creations. He considers them works of genius, but eventually he can no longer distinguish between fact and fiction. Real names creep into his serials, and characters from one story appear in the plots of others. This madness of art stands in pathetic contrast to the highly disciplined complexity of the novel. To Mario, who edits news bulletins at the radio station and writes arty stories on the side, Pedro Camacho is a cultural...

Author: /time Magazine | Title: Books: Latins and Literary Lovers | 8/9/1982 | See Source »

...little good news for Canadians. He asked workers in public service jobs to accept a cut in wage increases, from 12.2% last year to 6% in this year's new contracts, and in effect raised taxes by limiting a provision that protected taxpayers from inflation-induced "bracket creep." The new budget did offer lower-interest loans to small businessmen and farmers and proposed an innovative plan that would tax interest earned from special term deposits only when the interest exceeded the inflation rate...

Author: /time Magazine | Title: Canada: Shock Therapy | 7/12/1982 | See Source »

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