Word: forecasts
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That was the forecast of the TIME Board of Economists, which met last week to discuss the pre-election outlook. Said Board Member Alan Greenspan, who was chairman of the Council of Economic Advisers under President Ford: "There is no evidence that we are moving toward a recession in the foreseeable future." Nor do the economists expect any upsurge in either interest rates or inflation that could hurt Ronald Reagan's campaign. Said Charles Schultze, who was President Carter's chief economic adviser: "It's virtually inconceivable that anything could happen now that would have a significant...
American athletes struck gold at the Summer Olympics, but the real winner was the Los Angeles Olympic Organizing Committee, which put together the Games. The L.A.O.O.C. last week proudly announced that stronger than expected ticket sales had helped produce a $150 million surplus, ten times the $15 million profit forecast last fall even before a Soviet-led boycott threatened the success of the Games. Quipped Committee President Peter Ueberroth: "We only missed by a zero...
Meteorologists now forecast rain in terms of percentages instead of committing themselves one way or another. They have thus rid themselves of much ridicule and greatly improved their public image. Economists should do the same...
...Administration, the most troubling aspect of the report could be its economic forecast: "The prospects for achieving the goal of higher long-term economic growth are clouded by deficits." Tax increases and spending cuts will be needed to fight the deficits. "Standards of living for most people will rise less in the 1980s than they did in the 1970s and far less than they did in the 1960s," says the report...
...Texas Monthly forecast could easily turn out to be dead on the money, for to invite world attention is to endure meticulous investigation. In the face of it, Dallas is, as a Texan might say, as nervous as a cat in a room full of rocking chairs...