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Some Tory right-wingers would like the Thatcher government to recognize the new government in Salisbury immediately. The Prime Minister, however, is well aware that Britain cannot afford to offend African members of the Commonwealth. One index of their growing importance is that Britain's trade with Nigeria now exceeds its trade with South Africa. Nevertheless, as an indication of current Tory sentiment, Thatcher has decided to send a senior envoy to Salisbury, replacing the junior official there now The prevailing view in Whitehall, however, appears to be that action on both recognition and sanctions can be delayed until...
...prices is an economic slowdown, and the TIME economists see signs of recession proliferating. In April, personal income rose by an anemic .3%, down from 1.2% in March. The real volume of retail sales has declined during most of the year so far, and car sales are falling. The index of leading indicators has dipped for three straight months. From March to April, industrial production dropped 1% and housing starts fell 2%. The nation's savings banks had a record net outflow of $1.1 billion last month. Since savings banks provide much mortgage money, the pace of new housing...
There was very little in the news to buttress the President's buoyancy. The latest Consumer Price Index showed that inflation was running at an annual rate of 13%-the highest such rate in more than four years. A new Gallup poll indicated that Democrats prefer Senator Edward Kennedy by a hefty 58% to 31% over Carter as the nominee of their party in 1980. The oil companies were pressuring Congress to gut Carter's proposal for a tax on windfall profits when oil prices are decontrolled in June. And though at week's end negotiations between...
Still, controls seem to captivate more and more middle-class tenants. To them, rents are an easily identifiable and ever increasing part of their budgets, even though the rent component of the Consumer Price Index since 1967 increased only 71%, while the CPI as a whole went up 107%. Says George Sternlieb, director of the Center for Urban Policy Research at Rutgers University: "Such people know the evils of rent controls. But in view of their immediate concerns, many have adopted an attitude of 'I'll worry about posterity tomorrow...
...exact amount of the increase will not be known until April 26, when the Labor Department releases the Consumer Price Index for March...