Word: downes
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Dates: during 1970-1979
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If the trouble had been correctly anticipated, the U.S. might have closed its embassy. But the Administration reasoned that the risk of maintaining its embassy was worth it. The situation seemed to be in flux, and the Administration felt a U.S. presence in Tehran would act as a moderating force...
Escalating spot market prices are, if anything, a bigger threat to the world economy than is the ever present danger of a cut in supplies. With spot prices now hovering at $40 or more per bbl., nearly twice the maximum official OPEC price of $23.50 for oil sold under contracts...
If prices go as far as $35 per bbl., the impact on oil inflation and the world economy would be severe. U.S. consumer prices would continue rising at a dizzying double-digit pace, forcing the Federal Reserve to stick by its anti-inflation policy of sky-high interest rates much...
This process, known as petrodollar recycling, has pushed up the debts of the less developed nations to $300 billion. Many nations are so weighed down with debt that bankers are growing wary of lending them more. Yet if they cannot borrow, poor countries will have trouble importing more oil. Without...
In the international community, the reaction is likely to be more diffuse, but not less damaging to the Administration. Staunch allies, such as the NATO countries and Japan, ought to be aghast at an incident that so vividly demonstrates the limits of their senior partner's power. Friendly states...