Word: interesting
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Dates: during 1970-1979
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Like many self-made Texans he preferred the frontal assault to the indirect maneuver. He was convinced that the best way to transcend the malaise of Viet Nam was for our leaders to be visibly engaged in a tough defense of the American interest. He demonstrated immediately that the notorious Nixon "Palace Guard," which forced Cabinet members to deal with the President through White House assistants, could not survive the challenge of a determined Cabinet member. He simply ran over them on international economic policy. If he needed White House guidance, he simply crossed the street from the Treasury...
Even so, Washington policymakers are encouraged by Mexico's more active role in foreign affairs?notably in López Portillo's expressed interest in working out bilateral aid programs with and for other democratic nations in Latin America. Says a State Department official...
...even been threatened by the country's feeble opposition parties. But the price of P.R.I, dominance has been high. Says a prominent Mexican lawyer: "Politics has been the restricted domain of the official party for so long that most people are completely turned off. They have absolutely no interest in the outcome of elections that have been a foregone conclusion for more than 50 years...
...gasoline squeeze, angry consumers are putting most of then- heat on the retailers, in this case the heating-oil sales and delivery companies. With prices and interest rates climbing, refiners are tightening up on credit terms, forcing the retailers to demand quicker payment from homeowners. But many of their customers are starting the new heating season with unpaid charges from last year...
...will be largely determined by monetary policy. In the eight weeks since Paul Volcker took over as Federal Reserve chairman, businessmen's basic cost of borrowing money has jumped from 11.75% to 13.5%, the highest in history. Most board members hold that the increases will soon stop but interest rates will remain steep over the next year. Some fear that the Fed may worsen the recession by inducing a classic credit crunch, in which little money is available for borrowing to finance new plants and create jobs...