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...Cartoonist Conrad's portrayal of Father Ford bestowing a penitential blessing on a kneeling and presumably shriven New York City [Dec. 22]. I wonder if Conrad knows that he has the President of the United States giving the Boy Scout sign and not the ancient Christian gesture (index and middle fingers only) of God's peace. Intentional or unintentional, the bonus of that extra finger for New York serves to heighten the humor...
...months was nonexistent, is finally beginning. New orders are increasing, and British G.N.P., which declined in 1975, is expected to show a sliver of growth this year. Company profits, which fell drastically last year, are starting to recover, and the London stock exchange is rebounding. The Financial Times industrial index of ordinary shares has risen by about 84% since last summer...
During 1975, auto-insurance premiums rose an average 20.7%, and some big further increases are coming. Allstate early in December announced that it would seek increases averaging 12.5%; New Jersey has approved an 18.3% increase in auto-insurance premiums. In November the consumer price index rose at an annual rate of 8.7%, no better than the bad October figure, though many economists had expected a drop. One reason the rate stayed high: larger-than-expected boosts in auto-insurance premiums...
...Inflation will slow to an average rate of 6.6%, as measured by the consumer price index, and a hair less than that by year's end. That would contrast with a 7.6% increase in retail prices in the twelve months ended last October and a horrifying 11% in 1974. On this one point, however, there are some serious disagreements in the predictions. Beryl Sprinkel, executive vice president and economist of Chicago's Harris Trust & Savings Bank, sees the end-of-1976 inflation rate at a low 5%; Robert Nathan, head of his own consulting firm, forecasts a startlingly...
...have major contracts coming up next year, including negotiations in four major industries: autos, trucking, electrical equipment and rubber. Workers' purchasing power has eroded over the past two years because wage boosts have not kept pace with price hikes. Between January 1973 and July 1975, the consumer price index rose 27.1%, but average hourly earnings of workers in nonagricultural jobs increased only...