Word: musts
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Dates: during 1970-1979
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...Wall Street today is also very different from what it was a half-century ago. Then the market and the country were in an ebullient mood; optimism was king. The stock market law of gravity held that whatever goes up must go up again. During one day, RCA-the IBM of its era-soared 40 points. In recent years, however, the stock market has had the blahs, reflecting national uncertainty about the future. This summer the Dow Jones industrial average had already declined 50% from its peak of 1051 in 1973, when adjusted for inflation. Concludes Economist John Kenneth Galbraith...
...against disaster, in Heilbroner's view, has changed economic expectations so much that corporations raise prices and unions demand higher wages more recklessly than they otherwise would. The result is faster inflation. Thus the cure for the Great Crash, seen from this perspective, has created side effects that must be treated if the nation is to avoid the Great Inflation...
...recession deepens and election time rolls around, Volcker may find others, including Carter, carefully keeping a distance from him. Volcker seems willing to absorb the political lightning. There will be plenty of it as the economy reacts to the sweeping reforms announced by the towering and determined man who must test his resolve against the most punishing financial prospects in a decade...
...deploy around the mid-1980s nuclear-tipped Pershing II and ground-launched Cruise missiles with a combined total of 572 warheads. Says Peter Corterier, spokesman for foreign affairs in the West German Social Democratic Party: "For the alliance to act credibly and to negotiate with the Soviets, it must make its decision now to accept nuclear weapons in the European theater. Otherwise, no arms offer has any credibility...
...Washington's National Shrine of the Immaculate Conception. As millions watched on television, Sister Theresa Kane, president of the Leadership Conference of Women Religious, used her welcoming speech to inform the Pope of the "intense suffering and pain" of "half of humankind." In the church, she declared, women must be admitted to "all ministries," meaning the priesthood. The Pope was taken by surprise, but gazed impassively as most of the audience burst into prolonged applause...