Word: fears
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Dates: during 1970-1979
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Very few of Taiwan's inhabitants fear an actual invasion from the mainland. China currently lacks the landing craft and other military equipment for such a move. Taiwan's armed forces of 474,000 men, including a well-trained air force of 316 combat aircraft, 165 of them F-5A/E interceptors that it has built under U.S. license, would make a direct assault on the island extremely costly. Furthermore, the U.S. is maintaining the right to continue selling defensive weapons to Taiwan. Privately, however, the island's officials worry about the possibility of a Communist submarine...
...mile of tall, somber pines and rutted dirt roads in western Louisiana, the small clapboard houses are shuttered, watchdogs howl mournfully and people eye strangers suspiciously. "Folks are talking crazy," says a youth. "They're talking about killing people." Declares John Johnson Jr., a black community worker: "There's fear hanging everywhere...
...economists on the TIME board fear that their forecast may be too optimistic. Eckstein sees a 1-in-5 chance that frenzied borrowing, and buying of houses and other goods by consumers before prices go up even more, would continue to keep expansion rolling through much of next year. It would be nothing to cheer about, he adds, because inflation would continue to accelerate and the Government would have to press down even harder on the economy. Result: a recession that does not start until late 1979 but is then worse than anybody now foresees, lasting for as many...
...increasing defense spending he will have to cut some civilian programs-public service jobs, antipollution grants, subsidized low-income housing-and give up or delay some new initiatives. National health insurance? Not until 1983. Welfare reform? Under current plans, no money for it. Members of the Board of Economists fear that even if Congress accepts all this shrinkage, a recession nonetheless will push the deficit up to $50 billion by reducing tax collections and increasing unemployment benefits. That does not mean the effort to cut other spending is unwise; without it, the deficit could swell to monstrous proportions...
...feeling that people need not worry about their old age because Medicare, Social Security and private pensions will take care of them, but the attitude represents a basic change in consumer psychology. When inflation ran high in past years, consumers reduced their borrowing and increased their savings out of fear of bad times ahead. This helped fight inflation by braking an economy that needed slowing...