Word: indexes
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Dates: during 1980-1989
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Such was the dismal rhythm of the economy last week during the worst week of economic news since Ronald Reagan took office. The Dow Jones index of industrial stocks dropped 28.35 points, including a 20-point free fall on Monday, to its lowest level in 13 months. New figures out of Washington showed that inflation in July had increased at an annual rate of 15.4%. And the Government's index of leading economic indicators, which attempts to predict the future course of business, dropped another .1% in July after falling 1% in June and 1.6% in May. What...
July's stunning 15.4% annual rise in the consumer price index dramatized anew a serious flaw in the way the Government measures inflation. The Bureau of Labor Statistics calculates the consumer price index on the basis of the price of a variety of goods and services that an average family buys during a month. Housing costs account for 25.8% of the CPI, since that is how much of its budget a typical family spends on shelter. A sharp jump in mortgage rates, such as has occurred in the past few months, can thus have an important effect...
...meted out last week was the same in which, 17 years earlier, ANC Leader Nelson Mandela was sentenced to life imprisonment for acts of sabotage, including the 1962 bombing of a Cabinet minister's office in Pretoria. The charges against last week's prisoners were graver-an index of how the ANC, long ago an advocate of peaceful change, now reaches for the gun. Moise was charged with the 1980 bombing of fuel storage tanks at South Africa's SASOL coal liquefaction plant, the most spectacular guerrilla attack ever staged in the country, with damage estimated...
...Indexing. Slipped into the package during the last few days of debate, this would guard against "bracket creep" by indexing taxes to changes in the Consumer Price Index. For example, a person earning $20,000 who received a 10% raise at a time of 10% inflation would pay no extra tax. It would not become effective until 1985, when the 25% cut will have run its course...
...Huntington Avenue, many imported cars were in evidence. As were many loafers from Gucci's. The brue blazer index had sky rocketed...