Word: going
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Dates: during 1970-1979
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...related goods and services as varied as food and rents (tractors and furnaces burn fuel). So consumers will be obliged to buy less of almost everything else, notably cars, appliances and other durable goods. Squeezed by tight money, the construction rate of new homes and apartments could go as low as 1.2 million by March. As demand wanes, businessmen will further reduce production and inventories. But by late fall or early winter, their shelves and warehouses will be fairly empty, and they will have to stock up with new orders. This should send the economy up again...
JOBS. The success story of 1979 has been the remarkable rise in jobs, but opportunities will dry up next year. Though plenty of openings will remain for the skilled, untrained workers will be let go and let down. Unemployment, which dropped slightly last month to 5.8%, is expected to rise to 7.7% by the final quarter of 1980. That will be not nearly as severe as the recent peak of 9% in May 1975. Most board members agree that unemployment will hit a high around Election Day in November, which will hurt Jimmy Carter, and that the jobless rate again...
...election year to curb prices, board members felt that he would not try to impose mandatory wage and price controls, and that any attempt to do so would be disastrous. With the exception of Beryl Sprinkel, who figured that there is almost a 50% chance that the President will go for controls, most board members gave that prospect only a 20% to 40% chance. Carter first would need congressional authority and, as the debate raged on Capitol Hill, businessmen would rush to raise prices to get in under the wire. Further, board members argued, controls would not affect three major...
...sent more and more spouses to work; they drew down their personal savings; and they plunged more deeply into debt. But these defenses are rapidly being exhausted. Fully 60% of all U.S. women aged 20 to 64 hold paying jobs; not many more housewives are in a position to go to work. Savings have declined since the early 1970s from 7.4% of income to a modern low of 4.3%. Consumer installment credit has surged from $210.8 billion in 1974 to $369.3 billion in the third quarter of 1979. In brief, the American consumer will soon be forced to reduce...
...many a politician might envy, she warned of Soviet expansionism, reaffirmed the values of old-fashioned liberal democracy and insisted that "resolve" was perhaps the most important quality needed in a leader as the world heads into the 1980s, which she dubbed the "dangerous decade." Said she: "Let us go down in history as the generation which not only understood what needed to be done but had the strength, the self-discipline and the resolve to see it through." The crowd interrupted a number of times with applause and ended with a standing ovation. By any standard, Maggie Thatcher...