Word: indexable
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Analysts seeking to explain the market's jitters could point to some cloudy economic news. The index of leading indicators, a widely watched barometer of future trends in the economy, dipped down slightly in June, casting some doubt on the durability of the present brisk expansion. Investors have also been puzzled by the slow progress of the Carter tax and energy programs in Congress; they have been concerned about the growing U.S. trade deficit and fretful that a big increase in the money sup ply in recent weeks might prompt the Federal Reserve Board to tighten credit and thus...
...realization that common stocks are no longer a safe hedge against inflation. Robert Salomon Jr., of Salomon Brothers, the New York investment banking house, has measured the compound growth of nine assorted investments from 1968 to June 1977, a period in which the consumer price index increased at an annual rate of 6.2%. His findings...
Armed with search warrants, dozens of FBI agents used chain saws, sledgehammers and bolt cutters to break into three Scientology offices. They wore rubber gloves to avoid new fingerprints. The raids lasted up to 23 hours, and at the end the FBI needed 550 pages to index some 20,000 documents they had seized in the process. The captured material included files on "bugging devices," a "locksmith course," material on "the correct use of codes" and a folder marked "CIA agents' directory...
...that nothing very drastic was happening. A Soviet diplomat in Europe asked an American journalist last week, "Is your President getting nervous?" The answer, simply, was no. Said one of Carter's close advisers: "He's trying to avoid being too concerned about whether the detente index is up point four or down point...
Many Americans are displeased by what certain disparities seem to disclose about social values. To these, prevalent pay differentials, taken as an index of the social soul, seem to prove, for example, that the nation cherishes professional teachers far less than professional athletes. Or, more broadly, that society generally values members who do its most serious work not nearly as much as the actors, clowns and jocks whose task is merely to distract and amuse. But this handy method of social soul searching is not reliable. Far more directly, income differences reflect the operations of the marketplace...