Word: high
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Dates: during 1970-1979
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...more than 100 cities and towns in 35 states last week, hundreds, and in some cases thousands, of demonstrators joined in the biggest protest ever against what the country is targeting as "Big Oil." They voiced fears of a winter of low temperatures and high fuel costs, passed out "Big Oil Discredit Cards" and waved banners declaring, "I don't want to freeze in the dark." For most, the principal peeve was not gasoline prices or petroleum industry profits but the 60% rise in the cost of heating oil in the past 2½ years...
...order to slow inflation increasingly resembles the attempts in 1916 by Russian noblemen to kill Rasputin: they fed Tsarina Alexandra's mystic poisoned teacakes and wine, then shot him three times, and finally had to drown him in St. Petersburg's icy Neva River. Despite record-high interest rates, the long awaited recession still refuses to materialize definitively...
Economists believe that the nation's business will decline again this fall. Nonetheless, signs of continued economic vigor abound. Homebuilding, which is usually hit hard by high interest rates, remains strong; housing starts actually rose by 4.2% in September, to an annual rate of 1.9 million. At the same time, the use of the nation's industrial capacity edged up above...
...seem concerned about the climbing cost of money. One night last week, when Volcker arrived at Washington's Kennedy Center for a preview showing of Tom Stoppard's play Night and Day, a woman approached him and said plaintively, "Please, don't let interest rates stay high for too long." Replied the Federal Reserve chairman, as he removed the cellophane from his 20? Antonio y Cleopatra Grenadier cigar: "We're trying our best...
...panic selling had actually started the previous Thursday, Oct. 24. That was when the Dow Jones industrial average, having already slipped in seven weeks from its record high of 381, dropped by six points on spectacularly high volume to 299. The plunge continued on Friday, on a half-day session Saturday, and on Monday as well. But Tuesday is nonetheless remembered as the truly black day: as frightened shareholders across the country rushed to sell, trading volume soared to an unprecedented 16,410,030 shares,- the Dow tumbled another 31 points, to 230, and it was clear to almost everyone...