Word: lumbers
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Dates: during 1970-1979
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...about $14 billion in 1974. The cost will eat heavily into Japan's foreign-currency reserves, already dwindling at the rate of nearly $1 billion a month, and reduce the country's ability to pay for imported food and such vital raw materials as coal and lumber. The prospect of increased supplies of Arab oil has caused the Tokyo government to postpone until Jan. 10 a decision on conservation measures aimed at reducing Japanese energy consumption by 20%. But anticipation of having to pay heavily for the oil is keeping those plans alive...
Caswell said most of the wood sold by T&B comes from farmers in New Hampshire who cut down tall trees from their lands. The farmers sell the timber to lumber companies and sell the top sections of the trees to firewood distributors...
Armed with toolboxes and traveling in dented pickup trucks, they prospect in garbage dumps, abandoned houses, cut-over timberlands, deserted beaches. Their haul seems shabby: driftwood, salvaged lumber, squares of flooring, old banisters, fragments of stained glass. But to the foragers, these gleanings are golden. Months or even years later, their booty reappears in the recycled glory of selfstyled, handmade homes...
...Common Market-a step he accomplished last January-and give a hearty shove to industrial expansion with subsidies and tax incentives. Though he now claims that "the results are beginning to show," all that his opponents can see is inflation and the huge Common Market trucks that now lumber along sleepy English roads. So big are the Continental juggernauts that ancient English villages are literally being shaken to their foundations. Instead of decreasing, as everyone expected, popular opposition to the Common Market has grown into a clear majority...
...stress a third reason for shortages: price controls. Critics charge that by preventing companies from raising prices of finished products as high as the market will bear, the controls have also made it impossible for American industrialists to pay the high prices that such materials as copper, cotton, wool, lumber and chemicals now command on world markets. Inevitably, the goods are being carried off by foreign buyers, especially the Japanese. ("The Japanese have bought up every pound of wool in the world!" a New York buyer hyperbolically exclaims.) Says Alan Greenspan, a member of TIME's Board of Economists...