Word: inflationitis
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Dates: during 1960-1969
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Margin Calls. Inflation usually stimulates the stock market, but Washington's anti-inflationary moves are now badly hurting shareholders. The Dow-Jones industrial average has dropped more than 150 points since it reached the year's high of 969 in May. Last week it fell precipitously, closing at...
Costly Steaks. The industry makes no attempt to gloss over the serious de terioration of its finances. To get at least temporary relief, it is negotiating in Washington for the second fare in crease this year. Air travel has traditionally reflected the ups and downs of the U.S. economy, since...
Jobs for Life. Consumers are left out of the consensus, and they are becoming restless. Workers strike for giant wage increases-an average 15% this year-that aggravate inflation. Labor unrest is an ominous sign of discontent, for workers have also had their guaranteed place in the semifeudal industrial system...
No More Time. Japan's leaders smile and agree that, yes, change and more competition are necessary. Toshihiko Yoshino, research director of the Bank of Japan, concedes that opening Japan to foreign businessmen would help considerably to ease inflation. But he and other leaders plead for more time to...
White's third account ultimately disappoints. What is bothersome in the book is bothersome in the nation. As White himself explains: "It is difficult to be precise about the nature of the nightmare year out of which came Nixon's election. No phrase, no thought can catch, hold...