Word: mid-1970s
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Sentinel's system of radar tracking stations, long-range Spartan missiles and short-range Sprint rockets could indeed be of some avail against Chinese intercontinental missiles, although Peking has fallen a year behind schedule and is not expected to pose any threat until the mid-1970s . Against the real and present peril of 780 land-based Soviet missiles already pointed at U.S. targets, however, Sentinel will afford virtually no protection. Even a "thick" ABM shield, costing $40 billion instead of the projected $5.5 billion for the thin screen, would be hopelessly porous. Missile experts are quicker to devise...
That influence is rapidly expanding. Institutional investors now account for at least 35% of the trading on the New York Stock Exchange, and the proportion will be up to 50% by the mid-1970s. From 1955 through 1966-the latest date for which totals are available-the market value of stocks owned by institutions rose tremendously: from $9 billion to $19 billion for insurance companies, $12 billion to $37 billion for mutual funds, and from $6 billion to $38 billion for pension funds...
Trump Card. The U.S., which felt that Britain's earlier pledge to stay in the Far East until the mid-1970s was not nearly long enough, was naturally upset by the new schedule, delivered to Dean Rusk in Washington by Foreign Secretary George Brown. Short of registering its displeasure, though, there is little that the U.S. can do: Britain's SEATO membership, which she plans to retain, calls for no specific troop commitment. Washington's other concern was Britain's $350 million aircraft order with the U.S. for F-111 fighters. Since at least a dozen...
...under heavy pressure to follow suit. The reason for the U.S. decision, McNamara told 500 United Press International editors in San Fran cisco's Fairmont Hotel, was the threat that Red China would probably be able to strike the U.S. with nuclear-tipped intercontinental ballistic missiles by the mid-1970s. "It would be insane and suicidal for her to do so, but one can conceive conditions under which China might miscalculate," he said. For that reason, construction of the minimal ABM shield will begin before the end of the year...
...been for a year, partly because of trade losses stemming from the war in the Middle East. Thus, the $384 million that Britain paid last year for the upkeep of bases outside Europe looked like a luxury. Healey intends to cut this figure to about $168 million by the mid-1970s...