Word: inking
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...three books are tilted toward Democratic candidates. Perhaps this is natural: 1988 was the Democrats' race to lose, and they managed it very nicely. Nonetheless, the authors devote too little ink to Republicans, who have won every presidential election save one since 1968. If reporters spent as much time on (more successful) Republicans as they do their (more entertaining) rivals, the Democrats might someday get the hang of presidential politics. Someday...
...budget talks only nibble at the edges of the real deficit problem, partly because both parties agreed earlier this year to keep the S&L bailout off the books. If it were included, the red ink would swell next year from $165 billion to $230 billion. The negotiators are thus struggling to find spending cuts and tax hikes that would still fall short of covering the rising cost of the bailout. Both sides have agreed to boost taxes on alcohol, gasoline and autos priced at $30,000 and up. But such increases would go only partway toward paying for Bush...
...protracted war on the Arabian Peninsula, could bring what a government official calls a "deep, deep recession." Worse yet, it would be an inflationary recession. Oil-price increases push up the cost of not only gasoline and heating fuel but also everything else made from petrochemicals: detergents, paint, ink, plastics and anything packaged in them, to name only a few. Anthony Vignola, chief economist of the Kidder Peabody brokerage firm, figures that if the recent rise of crude oil to almost $32 per bbl. is not rolled back, consumer prices this quarter will jump at an annual rate...
...Duff & Phelps: "Fuel prices are important, but the really important variable is what happens to the economy. If the economy falters, it will mean a significant reduction in profits, or losses, at some carriers." That could cripple such weak airlines as Pan American and TWA, already awash in red ink...
...movie business. He wants to direct films, of course, and he has an idea for a script about a good-looking, sympathetic loan shark. The author's lovely, slightly malicious joke (Leonard has worked in Hollywood) is that among the movie town's barracudas, electric eels and ink-ejecting squid, a loan shark fits right in. Chili clearly has a great future, despite a disagreement with his prospective film's star, a handsome fellow of towering ego but -- got it! -- small stature. Finally meeting Shorty is one of the summer's real pleasures...