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...must not let our joy blind us to reality. The British made a patriotic myth out of Dunkirk, based on courage and exertion, but Dunkirk was still a staggering defeat. The overthrow of the Shah by Khomeini was a defeat for American foreign policy, heightened by our impotence during the hostage crisis. We are still in serious trouble in the Persian Gulf. That is what we have to remember...

Author: /time Magazine | Title: Letters: Feb. 23, 1981 | 2/23/1981 | See Source »

...Administration, which will inherit these economic problems in less than a month, is beginning to tone down its economic rhetoric. The suggestion by David Stockman, the newly appointed budget director, and New York Congressman Jack Kemp, that Reagan should declare a national economic emergency to prevent a "G.O.P. economic Dunkirk" may be quietly dying. Arthur Burns, former Federal Reserve chairman and a sometime Reagan adviser, said it would be "unwise" for the new President to initiate any sweeping new measures. Stockman is now staying out of the public eye amid reports that other Reagan officials found his advice intemperate; Kemp...

Author: /time Magazine | Title: Leaving 1980 on an Upbeat | 1/5/1981 | See Source »

...similar to that set by David Stockman, Ronald Reagan's designated new budget director, and New York Congressman Jack Kemp. Three weeks ago, they sent Reagan a 23-page memo in which they called for the declaration of a state of national emergency to avoid an impending "economic Dunkirk." Those two words already threaten to become what might be called the economic hallmark...

Author: /time Magazine | Title: Business: Outlook '81: Recession | 12/29/1980 | See Source »

...willingness to consider innovative approaches may be sorely needed. In their memo to Reagan, Stockman and Kemp raised the threat of "an economic Dunkirk during the first 24 months of the Reagan Administration." The Congressmen foresaw a multisided crisis: a new recession and rising unemployment brought on by skyrocketing interest rates; "hemorrhaging" federal deficits that would 'fan an already raging inflation; a "credit crunch" caused by excessive Government borrowing to cover the deficits, leaving little loanable money for businessmen and consumers. They also prophesied that unless the Iran-Iraq war ends speedily, world oil inventories will disappear by February...

Author: /time Magazine | Title: Nation: Eight for the Cabinet | 12/22/1980 | See Source »

Unable to continue publishing in the U.S.S.R., Solzhenitsyn sought to reach Soviet readers by other means. Though under surveillance and in constant danger of arrest or assassination, he contrived a kind of literary Dunkirk. He smuggled out to the West every one of his divisions and army corps. These had now grown in force and number to include the monumental Gulag Archipelago, The Oak and the Calf and August 1914. He gave instructions that vest-pocket editions of his books be printed in Russian on Bible paper by his Paris publisher for more convenient smuggling to the Soviet Union...

Author: /time Magazine | Title: Books: Battle Plan of a Rebel | 6/9/1980 | See Source »

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