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...Semantic Fog. The closest thing to a Nixon Administration definition of recession is the "adjectival" standard advanced by McCracken: a recession is "a substantial and broadly based decline in business activity that runs for a considerable span of time." Presumably using some such criteria, Arthur Burns, the new chairman of the Federal Reserve Board, told the Congressional Joint Economic Committee two weeks ago that we do not have a recession and I do not think we are going to have it." A the same hearing, Burns and McCracken conceded that U.S. production is dropping and will probably remain flat...

Author: /time Magazine | Title: Business: A Borderline Case of Recession? | 3/9/1970 | See Source »

...their latest meeting members of TIME's Board of Economists (see box) pointed to a clear reason for the semantic fog. The U.S. is experiencing something unusual: a business downturn that is likely to be sufficiently long and painful to meet some definitions of recession, but not severe enough to bring the drastic declines in production, employment and profits associated with unmistakable recessions...

Author: /time Magazine | Title: Business: A Borderline Case of Recession? | 3/9/1970 | See Source »

...engulfed in mist, sit down to wait until the fog clears." There are, however, a few details that will not wait. The U.S.-Japan mutual security treaty comes up for reconsideration in June; Sato intends to keep it in effect, though the negotiations are likely to be punctuated by student demonstrations. Sato's majority in the Diet rules out serious parliamentary oppo sition, and now that he has secured the return of Okinawa from the U.S., the protests may be muted as well...

Author: /time Magazine | Title: World: Toward the Japanese Century | 3/2/1970 | See Source »

...well, perhaps you're right," said Roger. "So, anyhow, I see a lot of movies. And then, sometimes, I get lost in the fog. And I go to the bathroom a lot. And I walk around the Common late at night looking for dead dogs, sometimes simultaneously pulling snot out of my nose with a paper clip...

Author: By Frank Rich, | Title: GOING CRAZY AT HARVARD They Shoot Horses . . . | 2/13/1970 | See Source »

...Sheep needs a plot to usher the audience through the vacuums between jokes. The men and women on stage are superfluous, a fog between the audience and Buchwald's byline at the breakfast table. And the words, so funny when read, just don't work when they come from comic book characters on stage. Sometimes, the playwright in Mr. Buchwald comes creeping out, but he soon crawls back in. Buchwald often hints that something is really going to occur between certain characters, that a situation is leading to a plot. There is such a moment when the ambassador's daughter...

Author: By Timothy Carlson, | Title: New York Sheep in the Balcony "Sheep on the Runway," Helen Hayes Theatre, N. Y. C. | 2/13/1970 | See Source »

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