Word: lot
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Dates: during 1970-1979
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...inflationary rise is caused by price-boosting forces almost everywhere in the U.S. economy. As Daniel Brill, the Treasury's chief economist, told TIME Washington Correspondent George Taber. "A lot of little things are breaking wrong. It's a tenth of a point here and a tenth of a point there." The problems...
COAL. Administration officials are concerned that any coal settlement will worsen the wage spiral. Says Brill: "There are contracts for 740,000 construction workers coming up between March and June. I just hope they don't read the papers, because a lot of their wives are going to be around reminding them of that 38.8% [prospective coal wage-and-benefit increase] over three years." In addition companies will also bid up the price of nonunion coal, switch to higher-priced fuels or make up for lost work by scheduling costly overtime when the strike ends. Those moves could boost...
Business people are not spending more. Murphy reckons, because they overexpanded during the world boom of 1972-73, then were stuck with costly overcapacity during the deep recession of 1974-75. "The scars run pretty damn deep." he says, ''and a lot of people are saying, 'My God, I'm not going to get caught in that position again. I'm going to run as hard as I can with the plants I've got, and I'm not going to put any more in place." Suddenly one day they'll realize...
...make sure that their markets are served by their own manufacturers. When I look at the value of the yen today compared with its value three years ago, I have to conclude that their autos are not fairly priced because the value of the yen has appreciated a heckuva lot more than they have raised their prices. In the U.S., we have to take a hard look to make sure that we are not victims of our own desire to continue on a free-trade course. Any alternative would be bad for the U.S. and bad for the world...
...were in a shambles. We had come through a helluva period. Viet Nam had been tearing the country apart, and there had been the oil crisis, the recession, Watergate. When I see how far we've come in getting our act back together, it gives me a lot of confidence about where we are going." Then Murphy looks at all those charts that show his plants running full out, his workers on overtime to meet a demand so heavy that it will lead to shortages of light trucks and some cars by early spring, and he says: "Yeah...