Word: home
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Dates: during 1970-1979
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Protests at home and a price revolt in OPEC as Saudi power wanes In Concord, N.H, it took the form of an automobile "honkin" outside Jimmy Carter's re-election campaign office. In Nashville, a 500-lb. pig with BIG OIL painted on its side was led to city hall to munch slops from a dish labeled AMERICAN WEALTH. In Washington D.C., elderly citizens bused in to join a picket line outside the American Petroleum Institute...
Already the cost of money for almost all purposes is soaring. Federal Home Loan Bank Board Chairman Jay Janis predicts that mortgage rates, which now average 11.5% nationwide, could reach 14% by January. Meanwhile, the ability of consumers to pay for costlier credit, oil and everything else is rapidly declining. Washington Economic Consultant Michael Evans calculates that inflation and the rising tax bite have reduced the spendable income of a family of four earning $20,000 annually by $1,000 so far this year. If consumers suddenly begin closing up their wallets and pocketbooks, as they are expected to, inventories...
That is, one could buy $10,000 worth of stock with just $1,000. Many thousands did, lured into the market by boosters like John J. Raskob, the stenographer turned entrepreneur who built the Empire State Building. "Everyone ought to be rich," he wrote in an exuberant Ladies' Home Journal article; anyone who could invest $15 a month, he declared, could eventually reap a profit of $80,000. A Harvard behavioral psychologist named John Watson even found therapeutic value in speculation. "Sex has become so free and abundant," he theorized, "that it no longer provides the thrill it once...
Released just days before, The Long Run, an adept and insinuating work by the regents of California pop, had already crossed the ocean, penetrated cultural barriers where some resistance might have been anticipated, and found a snug home for itself. Besides being a reminder of the international power of American pop music, hearing The Long Run in Blandford helped to take the Eagles out of cultural context. It lifted them from the category of stainless-steel Los Angeles pop, in which they are usually confined on their home turf, and let their music stand free of preconceptions. It sounded good...
...Cafe tries to shape a coda for the '60s by shoring up all the cliches of a generation ("love," "freedom," "amazing grace," "lonely crowd") and firing them off like salvos. The song becomes unwieldy, but its graceful melody rescues it. Henley and Frey have better luck closer to home, in the jokey, hokey bacchanal of The Greeks Don't Want No Freaks or the sly ironies of The Disco Strangler (a collaboration with String Player Don Felder) and King of Hollywood, in which a hard-hustling mogul is nailed neatly in two fleet lines: "He's just...