Word: feds
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Dates: during 1970-1979
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...within a year Burns was being hotly, though privately, criticized by Nixon's policymakers for keeping money far too tight (actually, the Fed had been creating money steadily, but consumers had been saving rather than spending it). Also, though most of Nixon's advisers were adamantly opposed to governmental interference in the marketplace. Burns became an early and staunch advocate of some kind of "incomes policy" to restrain inflation. His arguments probably helped prepare the way for Nixon's wage-price freeze of 1971 and the price controls of Phase II in 1972-though that...
...what rate of money-supply growth is just right for the economy, nor produce it even if he did know. Congress and the White House face equal uncertainties in their own duties of economic management. It is an eternal temptation for them to blame whatever goes wrong on the Fed, and during Burns' tenure both did. It is Burns' finest accomplishment that he yielded to neither and leaves with the respect if not the agreement of both...
...always keep pace with ambition. Monsanto, after successfully experimenting with a small-scale advanced system that burned solid waste with very little oxygen to produce synthetic oil or gas, set up a recovery plant in Baltimore. Under the larger-scale operating conditions, snarls developed in the conveyor belt that fed trash into the kiln. That, among other technical problems, led Monsanto to give up, but the city of Baltimore continues to work on the plant, hoping to make it succeed. The cost of building garbage-processing plants is high too; Raytheon is spending $50 million...
...setting is a tavern near Boston. The time is 1828. The hero is an O'Neill staple, the man of illusions-cum-sorrows, bottle-fed. With the aid of drink, Con Melody (Jason Robards) cultivates a highly colored remembrance of things past-the Gaelic gallant seducing the lovelies of Europe, the fearless cavalry major decorated on a Spanish field of honor by the great Wellington himself. In sorry reality, he is an impoverished tavern keeper too proud to tend bar as his father did in Ireland. Indeed, pride hagrides Con Melody, like the Greek Furies, except that...
...left the election's outcome in doubt. As a result, French nerves are becoming frayed. The national political drama once simply excited people, but now the plot has become too complicated, the actors have confused their lines, and the audience is tired. "J'en ai marle" ("I'm fed up with it") is the most frequently-heard comment concerning politics. Only extremists retain unwavering loyalty to their causes, while most Frenchmen find themselves increasingly disaffected with the parties they support. And nearly everyone worries about the prospect of political critis this spring...