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...four years since Torrijos' military junta seized power, government indebtedness has doubled to $320 million, and simply servicing the debt takes 30% of the budget. Meanwhile, there has been almost no industrial investment in four years, and a severe drought has forced once self-sufficient Panamanians to import rice...
Last week's "victory" hardly solves his problems, however. Although the soaring price of copper (up from 460 to 680 per pound) could bring Chile an extra $300 million in hard currency this year, the nation will have to import twice that much in food just to maintain current standards...
...Class Day speaker, however, Woody leaves a little to be desired. Usually, the Class Day address carries with it some political or social import. Somehow, Woody does not fit the mold of past speakers. The last five years provide a good contrast...
...that the first U.S. television production of America's greatest play comes from England, but even the most rabid "Buy-American" fanatic can welcome this import from Britain's National Theater. It may well be the most interesting Long Day's Journey since the original New York production...
Understandable as it is, the states' resistance will affect the growing energy crisis. Domestic reserves of oil are dwindling, and by 1980 the U.S. will have to import some 300 million tons of oil annually, most of it from the Middle East and Africa. The cheapest way by far of shipping oil to the U.S. is in supertankers. But where will the great ships unload their cargo...