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...Wood's Midwest is now laced with self-evident ironies; one might say that it is a nostalgia not so much for a rural way of life as for a means of seeing a rural ethos without irony. The revival of Grant Wood is as good a cultural index of Reagan's America as the launching of Robert Rauschenberg was of Kennedy...
...that prevailed 24 months ago, but they are still very high by historical standards. Inflation, now at an annual rate of less than 4%, could be rekindled if the economy heats up too quickly. Already there are a few scant signs of that. In May, the producer price index, a harbinger of consumer prices, rose .3%, after declining slightly in April and March. Small though it was, it was the highest rise for the index so far this year...
...there lightly chide each other for being perhaps a little too apocalyptic. "Not all is lost," said one observer, "because of weak demand, lack of investments and sales." Mexican companies, he feels, will just have to learn to live without profits for a while. The Bolsa's stock index, which anticipated the crisis last year and sank to 450 points in August after hitting a high of 1450 two years ago, recently rebounded and closed last week at 1087. Nonetheless, many stocks still sell for only two or three times earnings, vs. an average of almost 13 for American...
...currently trumpeting victory in his economic war as inflation has subsided and the unemployment rate has leveled off. But the current respite promises to be only temporary; the Guinness-proportion budget deficits insure that as the jobless rate creeps back down to a respectable level, the consumer price index will once again skyrocket...
Following is a list of the 50 largest companies in the Standard and Poors 500 index. The companies in italics do business in South Africa...