Word: feds
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Dates: during 1970-1979
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Today's K.K.K. units are also trying to recruit children. In more than a dozen cities throughout the country, Klan sympathizers have distributed leaflets to high school students asking: "Are you 'fed up to here' with black, chicano and [Oriental] criminals who break into lockers and steal your clothes and wallets?" The solution, according to the leaflet, is to join the Klan Youth Corps. At a K.K.K. summer camp in Jefferson County, Ala., robed counselors teach girls and boys ages ten to 18 the fundamentals of race supremacy and how to use guns. Near Decatur...
...Fed's draconian measures have first hit the housing industry. Last week the National Association of Home Builders called an emergency meeting in Washington to bewail the high mortgage rates. The group's economist, Michael Sumichrast, darkly predicted that housing starts, which ran at a 1.9 million annual rate in September, will soon be cut in half. The soaring cost of money, he claimed, has already forced 10 million Americans to abandon temporarily plans for that dream house...
Despite the distress, Volcker's interest rate policy continues to win support from bankers, businessmen and politicians. The U.S. League of Savings Associations unanimously approved the Fed's actions, and the group's chief economist, Ken Thygerson, admits that it "was necessary to deal a lethal blow to speculation in the housing market." Ben Heineman, president of Northwest Industries, calls the program a "sensible way of checking inflation." Even Senate Banking Chairman William Proxmire, normally the central bank's most vociferous critic, endorses the program, saying it has had an important "psychological effect." The battle against...
...your jobs" would be recalled, perhaps vengefully, by blue-collar voters in next year's primaries. Carter's chief economic adviser Charles Schültze and Treasury Secretary G. William Miller began privately hinting that they had worries about the intensity of the Volcker program, and former Fed Chairman Miller made a gratuitous dig at his successor: "Had I stayed at the Fed, my timing would have been different...
...Besides the sick and hungry refugees, the camp also contained a contingent of Khmer Rouge soldiers who had been beaten back into Thailand over the past three weeks by a Vietnamese offensive in the border areas. Though far better fed than the other refugees, toughened to hardship and accustomed to living by their wits in the jungle, the Khmer Rouge and their entourage had clearly reached the limit of their endurance. They did not look like human beings in the accepted sense of the term but rather like wild animals, completely brutalized. They slept huddled side by side like beasts...