Word: part
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Dates: during 1970-1979
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...ticket items like cars, which are normally bought on credit and not with cash, most economists continue to agree that the economy is not about to drop into a free-fall plunge as it did after the oil-price shocks of 1973 and 1974. For the most part, the members of TIME'S Board of Economists predict a moderately deeper recession than envisioned in their earlier forecasts of September; but they foresee no economic tailspin, in part because the strength of spending and borrowing has exceeded even their most extreme expectations...
...feed just enough new cash and credit into the economy to prevent a crunch. Yet something very much like a credit crunch may be the only thing that can break the nation's addiction to easy money. The inflation psychology of spending to beat price rises is becoming a part of the national psyche...
...international money expert. "Certainly, initially, if we are to brake inflation, there will be some difficult periods to go through. The sooner, the faster we do it, the less gradual approach we adopt, the better chance we have to succeed, to turn the corner. I am very encouraged that part of Volcker's approach is an attempt to deal also with the problems posed by the Eurocurrency market. He emphasized more than before the rate of money supply growth on this market, rather than interest rates. That is the right emphasis...
...time when Cuba is capturing unusual attention. In addition to its continuing military role as a Soviet proxy in Africa, it has lately become a source of renewed concern for American security in this hemisphere. The controversy over the Soviet brigade stationed on the island is only part of it. Equally perturbing is Cuba's role in the midst of the political unrest now brewing in the Caribbean, which has long ceased to be an "American lake." It is not "Havana's pond," either, but Cuba is clearly seeking to take advantage of targets of opportunity...
...year), Castro's nose-thumbing attitude toward the U.S. and his admitted achievements-notably the elimination of illiteracy-provide an alluring model for Cuba's neighbors. Says Abraham Lowenthal, a U.S. authority on Latin America: "These countries are satellites in search of an orbit. They may become part of the Cuban orbit, but not for military reasons. If the Cubans succeed, it will be because Cuba is able to convey a greater sense of social and economic integration, a greater sense of nation-building and a greater ability to employ people...