Word: good
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Dates: during 1980-1989
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None of this will happen overnight. But it's not naive or unpatriotic to applaud Mikhail Gorbachev's courage and to toast his good health. George Bush is not the only one who'd better not catch cold...
Despite slipping retail sales, most consumers profess relatively little fear about the economy. In a TIME/CNN poll conducted last week by Yankelovich Clancy Shulman, 6 out of 10 adults described current conditions as fairly good or very good, down only a trifle compared with January. Looking ahead to the next twelve months, 72% expected conditions to stay the same or improve, while just 24% of those polled saw the economy getting worse. Asked about their spending plans in the coming year, 65% said they thought it would be a good time to buy a major household item -- a refrigerator...
...economists believe a modest slowdown is necessary to suppress inflation, which had grown particularly stubborn in the past two years. Consumer prices rose at an annual rate of 5.9% during the first half of 1989, up from 4.1% last year. "The economy was running too fast for its own good," says Francis Schott, chief economist for Equitable Life Assurance. "It was working itself up to an inflationary frenzy...
...making the kind of sudden moves that could trigger a recession. The U.S. may be in for only a brief and relatively innocuous reversal like the one in 1961 rather than the painful contraction of 1981-82, when the unemployment rate averaged 8.7%. The current slowdown "is not a good thing, but it's the cost of a good thing," says economist George Stigler, a Nobel laureate and professor at the University of Chicago. Americans can only hope that if they pay now, they can fly again later...
...conflict, a little sex. Good stuff for a movie? Good enough for a pair of terrific movies: When Harry Met Sally . . . , written by Nora Ephron and directed by Rob Reiner; and sex, lies, and videotape, written and directed by Steven Soderbergh. Their characters are quick and engaging; they could be the thirtysomething folks on a good day, in a gilded mirror. As Ephron says, "People who live in cities aren't in car chases. We don't get shot at. What we mainly do is talk on the phone and have dinner." Her film and sex, lies serve...