Word: forecasts
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Dates: during 1970-1979
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...been weakened by rampant inflation. Denis Healey, financial spokesman for the Labor Party, predicted in a speech in Parliament early last week that the Tory government would devalue the pound in July or August. Currency speculators-mostly commercial bankers and treasurers of multinational corporations-took Healey's forecast as confirmation of their worst fears and began to unload pounds. On a single day, Thursday, about $1.2 billion worth of pounds were sold by speculators. In order to keep the pound's price in other currencies from dropping too sharply, European central banks had to pay out some...
...times as much as the world average. Could such power failures happen here? Early warning signals are everywhere. Says James Lydon, a vice president of Boston Edison Co.: "We have a serious power-supply situation in New England. The consumer can expect voltage reductions this summer." Similar brownouts are forecast for New York, Virginia, the Carolinas, Florida, Iowa, Illinois and Wisconsin. Miami, New York City and Chicago cause "special concern." When the temperatures rise next month, consumers who keep buying more and more electrical appliances can expect from time to time to find their air conditioners slow, their lights...
...architect of two budgets, Shultz guessed wrong on both. He maintained that the economy needed no big increase in fiscal stimulus last year because he forecast that the gross national product would jump smartly to $1,065 billion; in fact, that prediction was $ 18 billion too optimistic. This year he helped persuade the President to boost the economy with a tax cut, but he underestimated the dampening effect of new withholding schedules. Partly as a result of this, his planned $38 billion budget deficit will be about $10 billion smaller, and some Government spending intended for this fiscal year...
...MIDDLE. A drive in the Central Highlands had been forecast as long ago as last December. But when North Vietnamese troops and upwards of 50 tanks finally struck in force last week, they met shockingly weak resistance from the poorly led ARVN troops, who abandoned a string of 14 firebases northwest of Kontum in what Saigon euphemistically called a "tactical withdrawal." At week's end U.S. advisers remaining with the slender garrison at Kontum were ordering supplies for a two-day siege -two days because, as one adviser said, "You're never going to get enough ammunition into...
Wrong Reasons. Some of the findings were surprising indeed. Although geologists had forecast that there would be a trove of heat-formed crystalline rocks on the Descartes region's Cayley Plains, most of what the astronauts and their cameras saw were fragments called breccias, which are forged together from still more ancient rocks. At the very least, that unexpected finding means that the Cayley Plains were formed, not simply by volcanic flows, but by far more complex geological processes. Said NASA Geochemist Robin Brett: "We went to the right place for the wrong reasons...