Word: offs
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Dates: during 1970-1979
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Thus, in the seventh week of the cruel stalemate over the hostages, tensions mounted again-in Iran, the U.S. and also in Panama, where the deposed Shah Mohammed Reza Pahlavi took up residence on the Pacific resort island of Contadora. In Panama City, several hundred leftists marched through the streets...
Home now for the deposed Shah is Contadora, an island a little more than a mile square lying 20 miles off Panama in the Pacific Ocean. Part of a necklace of 226 other islands called Las Perlas (The Pearls), Contadora earned its name -Spanish for counter-during the 16th century...
The Paris-based Organization for Economic Cooperation and Development, which comprises the world's 24 leading non-Communist nations, also issued a grim forecast, and on an even larger scale: a rise to $26 per bbl. would cut nearly 1% off its members' economic growth, reducing it to...
PRICES. Inflation will abate, but not soon enough or substantially enough to cheer about. Recessions are usually slow to take the steam out of prices, and a tight money policy requires months to produce results. In fact, high interest rates will continue to add to inflation until they start to...
Climaxing a decade of disillusionment, the year 1979 tested Americans' capacity to absorb economic shock. Consumer prices doubled during the sputtering '70s, but it was in the decade's final year that the previously unthinkable became commonplace reality. The year that brought 13% inflation, 14% mortgage rates...