Word: forecasters
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Dates: during 1970-1979
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That is the forecast of TIME'S Board of Economists, who gathered in Manhattan for their quarterly assessment of the outlook, and in the context of recent grim economic tidings, it is rather reassuring. Last week, for example, the Commerce Department reported that the annual rate of inflation in the second quarter was 11%, even worse than first estimated. President Carter huddled with his economic advisers to plan a Stage Two anti-inflation program and warned in a speech to the steelworkers that it will be "tough" and require "some sacrifice from all." The Federal Reserve made some additional moves...
...otherwise credible and rational people keep trying to forecast the future with their Monday-morning crystal balls...
...other seven Ivy clubs. Keep in mind, though, that as bad as any Harvard team can be, it will always be better than at least four other teams in the league. So, lest we be called for Delay of Column, here is The Crimson's 1978 Ivy League Football forecast...
...crowd of up to 50,000 had been forecast for the Tenth Annual Festival of Life; only some 150 came. "Who was here in 1968?" one speaker asked. About four hands went up. Complained Waitress Janet Dezutter, 36, who had carried a VOTE PIG IN '68 banner in the good old days: "I felt like a grandmother among them. Times have changed. The war is over." Activist Dave Dellinger made a short speech. "Who's Dave Dellinger?" someone asked. After his speech, Dellinger retired to a near North Side loft for a wine-and-cheese party for tenth...
Though the Administration has raised its inflation forecast for the full year from 7.2% to 8%, it maintains that the worst of the price surge is past. Yet President Carter is planning to take a tougher stand against rising prices, something that would go beyond his less than effective voluntary program but would not, the White House insists, include any form of wage-price controls. Carter's top economic advisers will begin poring over various proposals for a "Stage Two" anti-inflationary program this week. None of them are yet firm and as one Administration planner groaned...