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Dates: during 1970-1979
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...full year below 10%. Greenspan predicts that retail prices will go up 10.4% for the year, making 1974 "the first calendar year of double-digit inflation since 1947." Eckstein frankly states that he can see "nothing but disaster" this year on the inflation front. He expects the consumer price index to rise 11.1% for the year and the wholesale price index to leap an incredible 17%. For length and severity, says Eckstein, the current U.S. inflation has already become the worst since World...

Author: /time Magazine | Title: FORECASTS: The Gloomiest Outlook Yet | 5/27/1974 | See Source »

With his left index finger pressing an imaginary headset to his ear, picking up some imaginary messages from his invisible television crew, Herbie began to provide the details (not always entirely accurate, but always authentic sounding) of the collegiate contest before us. "The bases are full and a home run could hurt Harvard here...

Author: By William E. Stedman jr., | Title: Rock Steady | 5/21/1974 | See Source »

Black Binders. The sober spirit of the hearings was embodied in two thick black binders placed on each of the 38 committee members' desks. One was an annotated index of the documentary or taped evidence accumulated by the committee staff in the six months that it has probed 41 allegations of wrongdoing-including obstruction of justice and complicity in the Watergate cover-up?by Nixon. The other binder held the material that Majority Counsel John Dear's staff presented to the committee during its first three-hour session. It amounted to a recitation of the events that...

Author: /time Magazine | Title: WATERGATE: Richard Nixon's Collapsing Presidency | 5/20/1974 | See Source »

...Labor Department announced that the Wholesale Price Index jumped .7% in April. Although that was the smallest monthly leap since last October, and little more than half the March rise of 1.3%, there was no cause for celebration. The good news was confined to a 3% drop in wholesale farm-product prices, which should lead to a welcome decline in some retail prices within the next few weeks-but many economists believe that the downward pressure on food is about spent. Industrial products ranging from iron and steel scrap to lumber, cotton, man-made fibers and animal hides rose...

Author: /time Magazine | Title: PRICES: New Reasons for Weariness | 5/20/1974 | See Source »

...things to rival the inflation rate is the rising paranoia index. Need anyone be reminded of the fears and confusions that hang over from recent assassinations, wars and political scandals? It is a time that has caused -if not an actual power vacuum-at least an intense low-pressure area that readily attracts conspiracy theorists, occult mongers and alert topical novelists like Robert Lipsyte...

Author: /time Magazine | Title: Books: Goodbye, Mr. Clean | 5/13/1974 | See Source »

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