Word: faster
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Dates: during 1970-1979
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...total output of goods and services, discounted for inflation-probably rose only 3.8%. But consumer prices jumped so rapidly that in December they are likely to average 9.5% higher than at the end of last year. Result: the President, who began the year trying to prod the economy to faster growth, shifted gradually to a tight-budget policy and proclaimed wage-price guidelines that stop just short of mandatory controls. When even those measures failed to stop inflation and the sickening plunge of the dollar, President Carter on Nov. 1 welcomed a sharp increase in interest rates that normally would...
...home, inflation at the start of the year seemed stuck at a basic rate of 6% to 6.5%-which Carter considered "reasonable and predictable." But then price boosts speeded up from Jan. 1 onward far faster than anyone had expected. The 1978 rise of 9.5% compares with 6.8% last year. The increase was particularly unnerving because there was no obvious, overwhelming cause-no oil crisis or crop failure or wild speculative boom. Rapid inflation came to be recognized not as an aberration but as a terrifying built-in tendency, a consequence of too many demands being put by too many...
...spring it was obvious that Carter had trained his guns on the wrong enemy. The economy proved capable of growing without new stimulus. Once the mountainous winter snows had melted, real G.N.P. surged at an unsustainable annual rate of 8.7%. Unemployment fell faster than Government economists believed possible, from 7% as recently as August 1977 to a four-year low of 5.7% in June. When the Council of Economic Advisers met in late March, says one member, "the numbers just did not add up. We had underestimated the inflationary pressure by a wide margin...
Small wonder. Those billions that conventioneers sprinkle behind them are high-velocity dollars. The money remains the same, as Gertrude Stein put it, but the pockets change. Faster than you can say otorhinolaryngologist. According to some estimates, a dollar spent at a convention is respent locally five times over the subsequent two weeks. Better yet, convention spending is pure gravy for the host city. "Conventions don't pollute or put any burden on municipal services," says Frank Sain, president of the Chicago Convention and Tourism Bureau. Adds Hartford, Conn.'s Convention and Visitors Bureau Chairman David Heinl: "A convention...
...good news first: George Abbott, at 91, is still one of the best directors around, and if he walks slowly these days, you would never know it from the staging of this, his 119th production. No one can move actors around faster, get more laughs out of a joke or slide so gracefully over a play's weak spots. The bad news is that the weak spots in Winning Isn't Everything, which opened last week at Manhattan's Hudson Guild Theater, are more like potholes, and even Abbott and an able cast occasionally stumble...