Word: herbert
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...economic ideas. Buffeted by conflicting advice, he lamely tried to split the difference. His speeches were a study in contradiction, combining hints of bold spending programs with cries for a balanced budget. If Franklin Roosevelt's approach was inconsistent, even intellectually dishonest, it helped produce a landslide victory over Herbert Hoover and ultimately the New Deal...
...many leftists are no more willing to forgive the 40,000 slayings attributed to the death squads than members of the military are able to forget their eight-year war against the guerrillas. One more political murder rocked El Salvador last week. Herbert Anaya Sanabria, 33, president of the nongovernmental Human Rights Commission, was about to drive two of his children to school last week when two men approached him. Armed with revolvers, they shot him dead, then fled in a pickup truck. President Jose Napoleon Duarte suggested that leftists may have fired the shots to sabotage peace talks...
...recession next year. And that is the wrong time to slash away at the deficit; tax boosts and cuts in Government spending would deepen any slump, because they would reduce the amount of money in consumers' hands. Some worriers go so far as to raise the ghost of Herbert Hoover, who slashed federal spending and persuaded Congress to raise income tax rates sharply in the wake of the 1929 Crash. Says University of Tennessee Economist Paul Davidson: "Cutting the deficit at this particular time would be the worst thing we could do. It would be Hooverism all over again...
Free-marketeers like Feldstein would just as soon let that happen and get it over with. Says Herbert Stein: "The dollar should be allowed to decline as far and as fast as it will." But that course runs a gigantic risk: a free- falling dollar could easily touch off a panic flight of foreign capital from the U.S. That is about the last thing anyone wants, since it could trigger a worldwide financial collapse. It would be much better to renegotiate the Louvre accord to allow a gentle, managed decline in the dollar. As part of such an agreement, foreign...
...issued through his spokesman, Marlin Fitzwater. On Black Monday, he blithely attributed the crash to "some people grabbing profits" accumulated during the market's long rise. In a statement after the close of trading, he said that "the underlying economy remains sound" -- unwittingly drawing another parallel to 1929, when Herbert Hoover said almost exactly the same thing. On Wednesday, Reagan remarked that the midweek rally indicated the Monday collapse had been "some kind of a correction" -- a statement that would have been reassuring only if he had intended it ironically, as he obviously had not. Some critics began speaking...