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Areeda returned briefly to Washington in 1969 to serve as executive director of the President's Cabinet Task Force on Oil Import Control and again from 1974 to 1975 as counsel to President Ford. As Areeda remarked in an interview, "those were excursions--my life has been teaching and writing...
...JACKY TERRASSON Jacky Terrasson (Blue Note). Seated at the piano, this 30-year-old Parisian import doesn't just play a song; he seizes it, takes it through his own looking glass and refracts it in ways that squeeze fresh thrills out of old Rodgers and Hart and Cole Porter jazz standards. Terrasson's debut served notice that here is a star in the making...
...HAMLET Out on the edges, in the supporting cast, one could quibble with this Broadway import from London. But who wanted to carp when Ralph Fiennes stood so commandingly at center stage, embodying a "sweet prince" of roiling depths and racing intelligence...
...budget deficit drive down investment, it also creates a trade deficit. Since the budget deficit in recent years has been so large, it has routinely eaten up an enormous proportion of domestic savings. The savings left over generally cannot meet the demands for domestic investment so America must import foreign capital to make up the difference...
...general rule of foreign trade is that net capital outflows must match the trade balance. Since the United States, due to its huge budget deficit, must import capital, it must also run a trade deficit to balance the other side of the equation. The result has been a steadily increasing trade deficit for much of the past two decades...