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...other troublesome issues. In preparation for the "economic summit" at month's end, he brought 28 noted economists together for the first of eleven minisummits (see ECONOMY & BUSINESS). Later, at the Continental Congress ceremony in Philadelphia, the President predicted that the nation would defeat "the tyranny of double-digit inflation" before the Bicentennial climax in July 1976. As if to set the stage for his pardon of Richard Nixon, Ford also announced that on the ticklish issue of amnesty for Viet Nam War deserters and draft evaders, he plans to create a clemency review board to set policy...
...daily consultation among the West's major economic powers to mesh policy. President Giscard has called for a summit of the Common Market nations' leaders. If solutions do not emerge soon, Europe could be on its way either to astronomical inflation or mass business failures and double-digit unemployment. These conditions, if allowed to fester, could eventually produce massive disillusionment with Europe's seemingly powerless democratic institutions. The specter of such disillusion makes many Europeans edgy. For widespread despair would no doubt encourage the demagogues of the extreme right and left, as it did in the 1930s...
...only if dialed with care. In Connecticut's area code 203, one digit away from Washington's 202 area code, Roland Booker, a cement finisher, and his wife Mona have the same phone number as the White House. Misdirected calls meant for Richard Nixon have be come part of their lives (three months ago an ambassador rang inquiring what time he should show up for dinner). During resignation week, they received an avalanche of calls urging Nixon to remain in office. But the Bookers have no plans to change their number and frankly enjoy having an accidental...
...building supplies, predicts that Congress will not long remain pliant if Ford starts whacking away at the budget in earnest: "He will discover that once he starts tampering with everyone's favorite pork barrel, you can lose some friends fast." Milwaukee Banker Neil Johnston predicts that double-digit inflation will continue for some years, no matter who is President. But Ford has at least a chance to make a fresh start, and will benefit for a while from business and congressional eagerness to forgive any economic mistakes. In economics as well as in politics, the nation needs a spirit...
...news was not confined to the farm. Wholesale prices of industrial commodities rose 2.7% last month, the ninth straight month in which they have increased at a double-digit pace. The index for fuels climbed 5.3% in July alone. Almost all types of machinery became more expensive. Factory prices of automobiles went up 2%-and are continuing to climb: one day after the index was released, General Motors raised the factory prices of 1975 model cars and trucks by an average of $480 or 9.5%, nearly duplicating in a single stroke the $500 in price hikes that automakers posted...