Word: lasts
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Dates: during 1970-1979
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...consumers suddenly begin closing up their wallets and pocketbooks, as they are expected to, inventories of unsold goods will rise and business will fall off sharply. Even Treasury Secretary G. William Miller, who had previously been happy-talking the economy by predicting that the recession was already half over, last week admitted that the coming downturn might be deeper than he had thought and warned that "strains and dislocation are still ahead...
After the upheavals caused by Volcker's monetary policy moves, the international commodity and money markets last week were enjoying rare refreshing quiet; the dollar held its own in Europe and rose dramatically against the yen in Japan. At the same time, gold slipped moderately to end the week...
...politicians seemed to endorse such ebullience. In his last message to Congress in December 1928, outgoing
Carter Administration officials are remarkably untalkative about the record rates, evidently in hopes that the developing downturn will become known as the Volcker Recession rather than as a product of Jimmynomics. Indeed, voters do seem concerned about the climbing cost of money. One night last week, when Volcker arrived at Washington's Kennedy Center for a preview showing of Tom Stoppard's play Night and Day, a woman approached him and said plaintively, "Please, don't let interest rates stay high for too long." Replied the Federal Reserve chairman, as he removed the cellophane from...
...Eagles, one of America's top-selling acts (their last album, 1976's Hotel California, sold 12 million copies worldwide), have been popular favorites even as they have endured some tough drubbing from the critics. The group, particularly Co-Writers Don Henley and Glenn Frey, have been taking it on the chin for such presumed transgressions as coldness, stylistic calculation and lyrical arrogance. Some of this criticism is justified. The Eagles are a motivating commercial force in rock more than a creative one. The Sad Cafe tries to shape a coda for the '60s by shoring...