Word: cuttingly
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Dates: during 1970-1979
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...rarely are, but it is no laughing matter. We may also be in for even more political show business. Image was not everything, but it was bigger than ever, a thought Jimmy Carter enlarged once he got in the White House. Tote bags, T shirts, red vests, scissors to cut red tape, calluses from work, playing a corpse in a college play, sliding down a fire pole-all were margins used by individual candidates in last week's relentless victories. Gerry Sikorski, the fellow who plastered red and blue signs on nearly every fence post and telephone pole along...
...work for a decade or more: the draining of energy and resources away from the parties and into a sort of fragmented political free-for-all. The extent of the political transformation can be seen in the extravagant use of television, which more than any other single factor has cut loose candidates from their parties and allowed them to inject themselves directly into the constituent consciousness: individual packaging instead of bulk. In this election, TV spending by candidates for Congress and state offices exceeded anything in the past...
...starts that the NAHB foresees would be the mildest of the many housing declines that have repeatedly led the economy into recession since World War II. But its impact might be magnified by a reduction in credit-financed buying of other goods, notably cars. Last week General Motors cut its year-end dividend to $2.50 a share, from $3.25 a year ago. GM officials formally clung to their prediction that car sales will total a near record 11.5 million next year, but added that high capital outlays make it wise for the company to conserve cash...
...dividend cut shocked Wall Street traders, who apparently saw it as a harbinger of many more to come. Stock prices, which had registered their sharpest one-day run-up ever (35 points) during the initial euphoria over the dollar-rescue program, fell back heavily; last Tuesday the Dow Jones industrial average tumbled 14.81 points. At week's end it was moving in a narrow range just above 800, but nobody could be sure it would hold there. Some brokers fear that a combination of high interest rates and the threat (or fact) of recession could push the average down...
...primarily corporations and banks, that have been hedging their positions in money markets. "The line between hedging and speculation is pretty thin," says Whitman. Yet she believes that corporate moneymen will rush to buy dollars as soon as they become convinced that the U.S will stick to a clear-cut economic policy. In Whitman's view, the Administration's dollar-revival plan consists of one Band-Aid and one magic bullet. The move to big intervention-selling gold, buying dollars-will barely patch a scratch. But the shift to tighter money, she believes, will be the real cure...