Word: everly
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Dates: during 1970-1979
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...fairly smartly: production picked up, and joblessness fell from its 1975 peak of 8.9% to the current 5.8%. But the U.S.'s solo recovery brought problems. Prosperity sucked in imports, but American exporters found little demand for their goods abroad. Then, too, the nation's dependence on ever more costly foreign fuel increased, lifting the U.S. oil import bill to boggling heights-$40 billion last year, perhaps $50 billion this year. The result was a three-year string of stinging trade deficits, including a record $28.5 billion in 1978. The devastating drop in the value of the dollar...
...trying to "recycle" the dollars that flowed into the oil-producing states and were then invested in the West or parked for short periods in the major institutions of industrialized nations. Much of this money was loaned to the hard-pressed developing countries to help them pay their ever heavier oil bills. The international banking system came through that operation in much better shape than many of the pessimists believed possible, though the amounts involved were huge...
...Ever since the followers of Ayatullah Ruhollah Khomeini seized power in Iran four months ago, many foreign companies have been haunted by a worry...
...rates surged on the eve of the 1973-74 recession, they have been losing deposits in a big way. April, for instance, is normally a poor month for the savings banks, since their customers commonly make large withdrawals to pay taxes. But April 1979 was by far the cruelest ever: nationwide, savings and loan institutions lost $1.5 billion in deposits (vs. an increase of $400 million last year). They gained back $1.2 billion in May, but that was considerably below last year's more normal $2.1 billion in new deposits...
...become one of the most dangerous assignments in journalism. Stewart, 37, was the first foreign press fatality in the 19 months of fighting, a providential record considering the grave risks that many journalists have been taking. Snipers, street-corner gunfights and indiscriminate government bombing and strafing are ever present threats. Areas of control shift constantly, and both sides are showing a tendency to shoot first and ask questions never. "This is a war of murder," said U.S. Vice Consul John Bargeron. "Executions are normal. They kill like this every...