Word: downward
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Dates: during 1980-1989
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...encouraged foreigners to convert their money into dollars for investment in the U.S. Since 1980, the value of the dollar has risen about 50% against an average of ten major currencies. As a result, imports have become cheaper, and the U.S. is running a record trade deficit that puts downward pressure on the dollar. A steep plunge could kindle U.S. inflation by boosting the price of imports. Warned TIME Board Member Lester Thurow, an economics professor at the Massachusetts Institute of Technology: "You could get a dollar shock that could push the inflation rate close to the double-digit level...
...hear them tell it, the climate of relations is at its worst since the most frigid days of the cold war. Nor is the deterioration just a matter of degree, it is a quantum jump downward to a whole new level of nastiness. By Moscow's estimate, the big chill is not merely disagreeable, it is dangerous: World War III, while not necessarily imminent, is more imaginable in the current atmosphere than before. Who do the Soviets blame for this alarming state of affairs? Ronald Reagan, whom they have recently started comparing to Adolf Hitler. The Kremlin leaders...
...According to Washington's figures, 96 people were killed by death squads last January, compared with 228 during the same month a year earlier, 279 in January 1982, and 665 in January 1981. Though the toll hit 100 in March, Administration officials claim the long-term trend is downward. "The figures are all guesstimates because there isn't any system of justice left in El Salvador," says Richard Millett, a Central American expert at Southern Illinois University. "Anybody can be killed with virtual impunity. You do not want to investigate because you might find out, and finding...
...time is the late 1960s and the setting an imaginary but vividly realized village on Narragansett Bay in Rhode Island. Experiencing "blossoming self-hood," three women divorce their husbands, tug their children into the vortex of downward economic mobility and take up careers. Alexandra Spofford makes clay figurines, Jane Smart plays the cello, and Sukie Rougemont writes a gossip column for the local paper. These friends meet almost every Thursday, as a coven of genuine, practicing witches: "In the right mood and into their third drinks they could erect a cone of power above them like a tent...
Having no ready answer, the economic troika went back to the calculators and produced a downward-sloping curve that showed inflation falling from 5% this year to 3.6% in 1989. Since interest rates are related to the level of inflation, the advisers trimmed their estimate of the 1989 rate on three-month Treasury bills from the 7%-8% range to 5%. By that statistical legerdemain, the projected 1989 budget deficit shrank from more than $200 billion to $123 billion...