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Perhaps the most encouraging forecast by the board members is for a slowdown in inflation. They predict that it will end the year at around an 8.6% annual rate, vs. 13.2% for the last quarter of 1980. The small surplus in world petroleum markets is now keeping a tight grip on oil prices, and that will remove one of the key causes of recent inflation (see box). Homeownership costs, which account for about one-fourth of the consumer price index, are up from a year ago, but the increases are tapering off because sales are slow. Good crops and heavy...

Author: /time Magazine | Title: The Outlook Brightens | 6/1/1981 | See Source »

Sometimes it begins with a mild discomfort in the chest. Other times the pain may be excruciatingly severe, holding the chest in a viselike grip...

Author: /time Magazine | Title: Medicine: When a Heart Attack Hits ... | 6/1/1981 | See Source »

...learned valuable lessons from his downfall: do not let your fingernails grow to excess, do not inherit too much money, do not fly too high. The man's decay was so pathetic and so gaudy that it is difficult now even for those with a good grip on middle age to remember that once he was a hero. A strange hero, certainly, but a real one; a test pilot of impressive courage and a gifted, self-taught aircraft designer at a time when aviation was the century's brightest adventure. In 1935 he set the world landplane speed...

Author: /time Magazine | Title: In California: The Goose Lives! | 4/27/1981 | See Source »

Weinberger insists that he is not interested in any dispute with Haig over prerogatives or authority. "I've got all the turf I want or could handle," he says. In fact, White House aides worry that Weinberger has yet to get a good grip on the country's massive but cumbersome military apparatus. Reagan aides are disappointed that Weinberger-now known to some as "Cap the Shovel," since he is dispensing the Administration's only budgetary increases-has not come up with any innovative overhauls of bloated programs to make the increased defense outlays more palatable...

Author: /time Magazine | Title: Softly, with a Big Stick | 4/27/1981 | See Source »

...compulsion to do it their way, without the meeting-taking and compromises of the Hollywood scene. Most of the 17 films being distributed by First Run Features were financed, at least in part, by state or federal arts agencies. The government can hold the independent director in a grip as tight as any old-line studio chiefs, but without those grants the films might not be made. With the Reagan Administration planning to halve its funding of the arts and humanities endowments, these film makers must seek capital from private sources and from the public; hence the new theatrical showcases...

Author: /time Magazine | Title: Cinema: Lights! Camera! Pittsburgh! | 4/27/1981 | See Source »

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