Word: downward
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Dates: during 1970-1979
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Blumenthal vigorously disputes the idea that last week's Government actions made a recession inevitable. He contends that the downward spiral of the dollar and stock market was mostly a result of a "perverse psychological climate." The President's shock treatment, he predicts, "will turn the situation around." It will give business leaders and consumers confidence that Carter intends to be tough in defending the dollar and fighting inflation, so that they will go on buying and investing. That view has some support even among businessmen who concede that the new program will cause them some trouble. Robert Corson, treasurer...
...down Cellar wit' no-hole mouse." The melting pot was a myth for blacks. While 60% of white immigrants in Boston moved from unskilled to skilled or white-collar jobs after a generation, blacks stagnated in "Negro jobs" ?as porters, janitors, servants. Indeed, their mobility was often downward; as white immigrants moved into blue-collar jobs, blacks were often moved...
...money traders agree, though they are making profits out of the irrationality, which they blame on their clients. Asks André Scaillet, chief money trader in Europe for First National Bank of Chicago: "Can you tell me if it's logical to have a 7½% [downward] movement of the dollar against the Swiss franc in a single day? It's out of this world!" Money traders worry quite as much as any finance minister about what the drop in the world's central trading currency is doing to the global structure of finance. Says Michel Grare...
Cheever's own story has had some harrowing moments, but the hero seems to have come through handsomely. After a serious heart attack five years ago, he underwent a rigorous cure for alcoholism. He speaks candidly of the downward spiral his life had taken and of the connection between writing and drinking. "If you are an artist," he says, "self-destruction is quite expected of you. Orphic myths popped up early, showing singers being torn apart by Harpies to the infinite satisfaction of society. The thrill of staring into the abyss is exciting until it becomes...
...than $20,000 a year) emphasize their degrees when claiming status identification; to the proudest group belong those who got rich without much formal education; the welfare and poverty class distinguishes between physically and morally clean and unclean; at all levels of society the most frequently mentioned cause of downward mobility is alcoholism; Americans tend to place themselves in the highest class they can defend on the basis of their material achievements. Concludes one suburbanite: "You can see someone in a Cadillac, and that only tells you what they're aspiring to, not what they...