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Choking the System. The ambience of that ambassadorial dinner contrasted severely with the somber mood that pervades Washington and much of the non-Communist world. The root problem is the enormous cost of imported oil, now more than $11 per bbl.,* a fourfold inflation in only one year. The increase has enabled the oil exporting countries to earn an almost inconceivable amount of foreign currency: about $100 billion this year. Unless prices weaken, next year's total will swell to $108 billion. By the end of this decade, the 13 nations of the Organization of Petroleum Exporting Countries (OPEC) could...

Author: /time Magazine | Title: OIL: Trying to Cope with the Looming Crisis | 10/14/1974 | See Source »

Rebellious Sailors. The liner's fate had been sealed last July, when French President Valéry Giscard d'Estaing announced that the government could no longer afford to subsidize the ship. A fourfold increase in oil prices had pushed the liner's estimated deficit to an intolerable rate of $21 million this year. Although the ship was to have been pulled out of service on Oct. 25, the end was hastened when the crew went on strike two weeks ago as the liner approached Le Havre on its regular crossing from New York. Rebellious sailors forced...

Author: /time Magazine | Title: THE HIGH SEAS: Adieu to the France | 9/30/1974 | See Source »

...improve. Simply put, many more destitute people were receiving money and such benefits as food stamps, housing subsidies, Medicaid and other health services. Initially, at least, the programs were continued or expanded by the Nixon Administration. From 1960 to 1972, social welfare expenditures in the nation shot up nearly fourfold: from $52 billion to $193 billion. Beneath the bluster and the controversy, a significant redistribution of income had taken place. Steiner passes too quickly over some of the deficiencies of welfare, particularly its tendency to break up families by giving assistance only to fatherless homes. Yet it is hard...

Author: /time Magazine | Title: OPINION: A New Look at the Great Society | 1/28/1974 | See Source »

...parody of the musical comedy medium, the child of all of the "serious" musicals that we have. LaZebnik inflates the institutions of musicals--torch songs, soft-shoe, romantic ballads--and then colors them with subtle witty lyrics and musical jokes: the entr'acte is a fourfold repeat of one song, and typically Show-type" harmonies are colored with dissonance or humorous rhythms. One of the greatest problems in most musicals is the transition from dramatic scenes to musical numbers. The history of shows displays a constant struggle to find new, unexpected ways to introduce songs, particularly those numbers which seem...

Author: By Jonathan Sheffer, | Title: Solid Gold Teeth | 12/8/1973 | See Source »

...come into Westsail's headquarters from as far away as Switzerland and Brazil at the rate of 50 to 60 per day, many from people who had never owned a boat before. Orders are currently flowing into Westsail at the rate of $600,000 per week, a fourfold increase since the story appeared...

Author: /time Magazine | Title: A Letter From The Publisher, Jul. 2, 1973 | 7/2/1973 | See Source »

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