Word: majority
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Dates: during 1970-1979
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...inflation. The Government's efforts to moderate consumer spending without bringing on a recession are showing mixed results. January housing starts fell 20% from the previous month to 1 6 million units, in part because of bitter winter weather in much of the country. On the other hand, major retailers such as J.C. Penney and Sears reported double-digit sales gains in January, and auto sales in the first ten days of February were 15% higher than a year ago. The consumer buying spree, the inflationary rises in the price of energy, the gloomy prospects of higher import costs...
...America's most plentiful fossil fuel is also being held down by expensive and rapidly changing regulations on the burning coal. Energy Department has tended to promote the use of coal,while the Environmental Protection Agency has been inclined to retard it. Nuclear power development has slumped. A major reason: complex and long-drawn-out regulatory studies and hearing give vocal minority a devastatingly effective forum for opposition and delay the building and licensing of new plants for an average of or twelve years or more...
...climb has been helped by reports that South Africa, until recently a major consumer of Iranian oil, has negotiated a long-term deal to buy alternative supplies from Saudi Arabia in return for gold. Since South Africa is the world's largest gold producer and Saudi Arabia is the world's largest oil exporter, such a deal would divert much gold away from world commerce and into Saudi vaults, forcing up the price of the metal still more...
...member nation must contribute not only paper money but also 20% of its gold reserves to the pool that will back the new ecu. In short, the ecu will be partly supported by gold. Laments one discouraged U.S. Treasury official: "The drive to demonetize gold has clearly suffered a major reversal. In just one year the weakness of the dollar has wiped out all the progress that we made in two decades...
...world-class athlete still little known to his countrymen, but Kurt Thomas is not the retiring sort. This month alone, he will travel over 10,000 miles, crisscrossing the country to gymnastic competitions, exhibitions, banquets, television tapings and, this week, a White House reception in his honor. "In a major sport like basketball, Larry Bird can just say to everyone, 'Leave me alone. I'm going to make my million anyway,' " says Thomas. "But in a minor sport, it's what we need...