Word: loosening
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...European officials are openly concerned about the quality of advice that Reagan receives from the men around him. They fear that the President's most hawkish advisers, notably Defense Secretary Caspar Weinberger and White House Counsellor Edwin Meese, may look upon the Polish crisis as a chance to loosen the Soviet grasp on Eastern Europe. Such a policy, in turn, might force Moscow to crack down even harder. Others claim to hear too many voices coming from the Administration. Says a peeved British diplomat: "No sooner does one U.S. official announce an attitude than within 24 hours another...
Almost invariably, efforts to improve the economy create a Catch-22 trap for Soviet leaders. To stimulate output, they must increase incentives and loosen central control. But to do so means giving up some of their vested power, which they are loath to do. Moreover, Soviet preoccupation with defense prevents any substantial diversion of resources to consumers. "The Soviets don't seem to take account of popular needs and wants as they should," says a U.S. official. Adds Goldman: "They have a tired leadership and a tired economy. Coupled with the pressures from places like Poland...
...somehow, things loosen up along the way. The jokes flow less smoothly and one's attention wanes as the story progresses. In his best work, Perelman's words crowd together on the page and jab at you continually. Here they seem to spread out and sit more complacently. It is a shame that in our last glimpse of this fine writer, he is not at his best...
...wanderer from the true faith appears to be Treasury Secretary Donald Regan, who along with Budget Director David Stockman and Council of Economic Advisers Chairman Murray Weidenbaum is a member of Reagan's "economic troika." Regan last week called upon the Federal Reserve Board to loosen the tight money supply. He merely wanted the Fed to honor its own targeted growth rates for the money supply and avoid choking the economy, but to monetarists looser money is absolute heresy...
...week urged the President to declare an end to tight money. Said he: "The President should say to Mr. Volcker, 'Look, we've made good progress with this policy, but now it is threatening to throw the economy into a serious recession, and it is time to loosen things up.' " The President himself last week took an indirect swipe at the Federal Reserve, when he told a California political fund raiser that high interest rates were "hurting us in what we are trying...