Word: majority
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Dates: during 1970-1979
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...price boosts than had been supposed. Consequently, though Okun is usually vehemently opposed to a policy of relying primarily on money-supply policy to combat inflation, he proclaims himself "not horrified" by Volcker's actions. Okun fears that "interest rates could become so unstable as to be a major source of disturbance in the markets," but hopes that businessmen will now stop an inventory buildup that he judges to be troublesome...
...third-quarter earnings were down. In fact, as announced late in the week, they fell 18%. The unsold paper, possibly $300 million worth, was dumped on the open market, where it fared badly. IBM's timing ignored a hoary Wall Street axiom: "Never commit yourself to a major issue before a long weekend. Who knows, we may be at war by Tuesday." There was no war, but the underwriters were routed nonetheless...
During a two-hour meeting with the Governors, Carter discussed the West's criticisms of his efforts to block certain major water projects, push large-scale synthetic fuels development, and station a new MX mobile missile system in Nevada and Utah. He agreed that the Governors should have veto power over where synfuel plants are to be placed in their states, that a Westerner should sit on the proposed Energy Security Corporation if Congress approves its creation, and that the states should get federal help if large numbers of either synfuel or missile construction workers should flood particular localities...
...Korea and the Middle East with surface-to-air missiles. They have never made a single kill, but that could change. Entering the Soviet arms inventory is a new SAM called Gammon that the U.S. Air Force estimates has the capability of catching up with an SR-71. A major concern of U.S. defense authorities: if the Gammon is shipped to Havana, it could be bye-bye, Blackbird, over Cuba...
...most part, Khomeini fielded the questions with aplomb, calmly denying many of the charges raised in the West against his rule. He denied that leftists played a major role in the revolution "None of them fought or suffered. If anything, they took advantage of the people who fought and suffered." Khomeini also charged that the left had been created by the Americans "to launch slanders against us, to sabotage and destroy us." It was of no consequence, he said, that Iran would not be called an Islamic Democratic Republic, since the "word Islam does not need adjectives such as democratic...