Word: last
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Dates: during 1960-1969
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...BUSINESS. There are increasing signs that the Nixon Administration's restraints are finally beginning to hold back business. Some economic indicators remain strong. Factory orders for durable goods, notably steel, engines and turbines, bounced up sharply in September, and capital spending, according to the McGraw-Hill survey released last week, is expected to rise about 8% next year. But largely as a result of the Government's deflationary policies, industrial production has fallen for the past two months, and auto sales dropped in October. Profits are also sluggish. Most economists foresee a decline in earnings and little...
...Last week a new prior arrived in Boquen. Dom Besret (pronounced beret) had been summoned to Rome and dismissed for threatening to destroy the monastic concept. Cistercian superiors were unmoved by his pleas to be permitted to stay on as "president" of a more open community. Explained a Vatican official privately: "If you are going to have a monastery, you must have a monastery. It can't be a country club...
...most widespread dissatisfaction with President Nixon's policies. Almost to a man, U.S. citizens feel frustrated by the persistence of inflation and its pervasive effects-high prices, oppressive interest rates and a severe scarcity of credit. Of those who were questioned in the latest Louis Harris poll, published last week, 51% gave Nixon a negative rating on Viet Nam; an overwhelming 79% disapproved of his handling of inflation...
Until recently, the Administration has been monolithically united on the need for tight money. Presidential Counselor Arthur F. Burns, who is scheduled to become Federal Reserve chairman in January, said last month that "we will not budge." Simultaneously, however, Labor Secretary George Shultz began arguing for an immediate but moderate expansion of money and credit. Though he lost the argument, he soon may gain an important ally. Paul McCracken, chairman of the President's Council of Economic Advisers, believes that the severely restrictive policy has been correct so far, but now he is beginning to wonder whether the time...
...when it increased the money supply by 14% to counteract the expected deflationary effects of the surtax. That action sharply accelerated the current inflation. Martin now wants to restore his reputation as a sound-money man by making sure that inflation is effectively constrained during his last few weeks in office...