Word: fords
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Dates: during 1970-1979
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Photographer David Hume Kennerly first met Photographer Ansel Adams in 1974, when Kennerly was President Gerald Ford's personal photographer at the White House. Struck by the haunting landscapes in Ansel Adams: Images 1923-1974, Kennerly brought the volume to the President's attention. Ford asked Adams for one of his prints and, at Kennerly's suggestion, invited the artist to preside over its installation in the President's private office...
Since then, Ford's two favorite photographers have met several times, both at Adams' home on the oceanside cliffs of Carmel, Calif., and at Kennerly's townhouse in Washington, D.C. Kennerly has acquired three Ansel Adamses, and Adams a David Hume Kennerly. "We once swapped one for one," recalls the younger man. But the most satisfying of their exchanges, says Kennerly, was photographing Adams for this week's cover story, which marks the publication of Adams' 35th book and the opening of a major exhibit of the work...
...basement. There were about a dozen people in the basement at the time and four have come forth and said that they saw him: Mark was one, Johnny C. was another, I was one and another witness-a party person who had been connected with the Ford White House, a protocol type." Had anyone actually seen Jordan snort cocaine? "Johnny C. was the one who turned him on, and I saw him take a hit in each nostril. It was next to the pinball machines...
...spring of 1979, when the third recession of the decade probably began, is often called "the longest peacetime expansion in U.S. history." Some expansion! Unemployment stands at almost 6%, and to keep the rate from climbing even higher than its 1975 recession peak of nearly 9%, both the Ford and Carter Administrations have had to stuff the people's pockets with almost as much inflationary funny-money, in the form of Government deficit spending, as was generated in all of World...
...slack and unemployment shoots up, Keynesianism can still play an important role. But now the economic pendulum has swung from underutilization of capacity to overstraining of productive resources, and policies aimed at further firing consumer demand without simultaneously increasing investment and supply have become about as useful as Gerald Ford WIN buttons. Says Feldstein: "It is a much more complex world than Keynes or anyone else admits, and it is constantly changing. We know enough to move the economy out of a trough but not to control the business cycle...