Word: moving
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Dates: during 1970-1979
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Despite the problems, the street is resisting change, reluctant to move away from dealing in nods and trust and credit. On a sunny spring day, small groups of Hasidim, shaded by their wide-brimmed hats, stand on the sidewalk in front of the delis, speaking Yiddish, holding diamonds up for study and striking deals. Antwerp must have had similar scenes in 1608, when there were 104 Jewish diamond cutters in the city. On 47th Street, the old ways are still the best. They always have been in the diamond business...
...reduce grants to the states, most of which are running surpluses and do not need such large payments. Pare the defense budget by returning to some form of military draft, paying 19-year-olds at a rate of $100 a month for one year's service. Such a move would arouse immediate protest and unpopularity, but it could reduce the Pentagon's personnel costs by several billions. As the growth of federal spending drops, the need for Government borrowing will decline, freeing up more capital for private investment...
Encourage Domestic Energy. Eliminate all controls on oil prices, which would then rise to world levels and stimulate conservation; such a move would also lead to the expansion of drilling in the U.S. and to the development of alternative sources of energy that would become economically competitive if oil prices were higher. Guarantee loans for the development of particularly chancy and costly alternatives: oil from shale and tar sands, natural gas from coal, and solar energy...
...necessary. The Teamsters' bargaining council called for a strike authorization vote by its locals over the weekend, and approval by a large margin was expected. Since such a stoppage could bring the economy to a wrenching halt, the Carter Administration has made clear that it will move quickly to end any strike, probably by invoking the Taft-Hartley Act. That would require a 90-day cooling-off period, during which the truckers would be under court order to stay...
Alfred Kahn, the President's senior inflation fighter, has warned that any agreement in excess of the guidelines would move the Administration to intensify its efforts to deregulate the trucking industry. That would make it easier for new firms to pick up lucrative routes. The trucking companies and drivers fear deregulation because competition may reduce rates, profits and job security. So far, key congressional committees have been cool to deregulation. There are major trucking firms in almost every congressional district, and they can bring much pressure on their legislators...