Word: fannings
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Dates: during 1970-1979
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...either case, the increase has menacing consequences for the oil-burning world. It will further fan the inflation that is raging at double-digit fury in the U.S., Britain, France and Italy. U.S. Treasury Secretary Michael Blumenthal estimates that petroleum increases alone have so far this year jacked up the inflation rate by 2.5% in the industrial countries. A further $5.45-a-bbl. boost is likely to siphon an additional $80 billion a year out of the major industrial nations, reducing their citizens' ability to buy food, clothes, houses?indeed, everything except oil. Result: further slowing of growth rates that...
...evidence of this movie, the 1978 Grand Prize winner at Cannes, it seems safe to say that Italian Director Ermanno Olmi is no fan of Bernardo Bertolucci's 1900. Like 1900, The Tree of Wooden Clogs is a lengthy (three hours), luxuriously photographed film about Italian peasants, but after that all similarities end. 1900 was a didactic epic that attempted to merge the florid drama of opera with the tenets of Marxism; Clogs is pointedly a tranquil, nonpolemical attempt to describe the peasants' daily existence in the objective manner of documentary cinema. Given their respective goals, Olmi...
...General Electric engine (the CF6) on takeoff at New York's Kennedy Airport in 1975, when a number of seagulls had been caught in its internal blades. But the crew was able to abort the takeoff without injury. Another possibility was that the engine fan assembly had disintegrated in flight. That had happened to a DC-10 near Albuquerque in 1973, ripping a hole in the fuselage. One passenger was sucked out a window to his death...
Another threat is OPEC. Some of the economists expect the oil cartel to go on raising prices from the present average $16.40 per bbl. to about $18 by year's end. Higher fuel costs would both fan inflation and be an added tax on Americans' disposable income, thus prolonging the recession. Otto Eckstein, chief of Data Resources Inc., the economic analysis firm, favors putting a strict limit of 7 million bbl. per day on petroleum imports, which now average about 8 million bbl. daily; mandatory limits would probably result in gasoline rationing. Okun and other board members would...
...encouraging people to seek medical care that they could not otherwise afford (few could without insurance: total payments to doctors and hospitals will work out to more than $3,500 this year for a typical family of four). But the system could hardly have been better designed to fan inflation than if that had been its purpose. It has in effect repealed for medicine the last vestiges of the law of supply and demand, a free market equivalent of the law of gravity, and made health care a market of weightlessness: what goes up keeps going...