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...produced some national hand-wringing and a spate of conservation measures that cut imports in half between 1977, their peak year, and 1985. But when world oil prices collapsed in 1986, the nation's per capita oil consumption began to climb again, the fuel efficiency of American cars slid downward, and oil imports returned to the levels of the 1970s...

Author: /time Magazine | Title: The Energy Mess | 2/18/1991 | See Source »

...warn other restive republics to draw back from demands for sovereignty -- before the troops arrive there too. Some in the West were beginning to divine a different message: a betrayal of their investment in Gorbachev's leadership. Even his well-wishers fear Gorbachev has embarked on an accelerating downward spiral...

Author: /time Magazine | Title: Soviet Union: The Bad Old Days Again | 1/28/1991 | See Source »

...biggest risk is the prospect of a widespread bank collapse. The trigger could be a protracted war in the Persian Gulf, which could, in turn, deepen the recession and force debt-laden companies into massive loan defaults. Collapsing banks would aggravate the downward spiral by drying up credit and leaving taxpayers with another painful bailout bill. The disaster scenario may be plausible, but most experts doubt that bank failures will come close to the magnitude of the S&L fiasco, which will cost Americans as much as $1 trillion over the next 30 years. Despite the banking industry's problems...

Author: /time Magazine | Title: Pillars Of Sand | 1/14/1991 | See Source »

...unemployment climbs, inflation rises and the economy lurches toward an expected slump, economists issue dire warnings about "recessionary psychology" -- a pattern of cuts in consumer spending and investment that tends to feed the downward spiral and make any economic falloff even deeper. But there is another, more profound kind of recessionary psychology. It is measured by psychic indicators rather than economic ones. As people change their behavior in the face of layoffs, cutbacks or a sudden drop in net worth, more and more Americans find themselves clinically depressed...

Author: /time Magazine | Title: Behavior: Is The Country in a Depression? | 12/3/1990 | See Source »

...looks like a 9-in. cloth-covered ruler, but a quick downward flick will send it curling around your wrist. And before you can say Slap Wrap, you are wearing the newest preteen craze. The bracelet's manufacturer, Connecticut- based Main Street Toy, sells nearly 500,000 a week (retail price...

Author: /time Magazine | Title: TOYS: A Slap On the Wrist | 11/12/1990 | See Source »

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