Word: pasting
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Dates: during 1970-1979
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...thus taking the risk of tipping the nation into recession, or to maintain rates at their present levels, which might worsen inflation. Their deliberations will be kept secret for a month, but early signs are that the committee, which has been closely divided on the issue in the immediate past, voted not to lift rates...
...complicate the Federal Reserve's problem, it is becoming even tougher to make major policy decisions on the basis of money growth figures. Officially, the nation's money supply has not grown since October, and in the past three months, M-l (currency plus checking accounts) actually declined 1.5%. But Fed insiders believe that the actual stock of money that is available to be spent has been expanding by perhaps 6% to 7%. Reason: there is a proliferation of new financial devices that effectively enlarge the money supply but are not measured by the old standards. One of these innovations...
...cities and suburbs, the issue is catching on because inflation is combining with a diminishing apartment market to bloat rents. Washington, D.C.; Montgomery County, Md.; Boston, Brookline and Cambridge, Mass, and a number of small towns in New Jersey have enacted rent controls since the early 1970s. In the past twelve months, bills calling for some form of controls have been introduced in the state legislatures of New Mexico, Arizona, Oregon, Hawaii and Pennsylvania. A tenants' association in Miami Beach, where some rents have doubled in five years, is trying to bring back the controls that the city council...
...Such was British Foreign Secretary Lord Palmerston's contemptuous description of Hong Kong before it was ceded to the British by a weak Chinese regime at the close of the Opium War in 1842. As a fruit of war, it was not considered a peach. But over the past 137 years, the once blighted island has developed into a bustling seaport colony that boasts a thriving economy. Though Britain's lease on 90% of the 400-sq.-mi. area expires in only 18 years, residents expect a glowing future of political stability and more prosperity...
...Board Chairman William S. Paley; the Washington Post and successive Publishers Philip Graham and his wife Katharine; the Los Angeles Times and Publishers Norman Chandler and his son Otis. (Curiously, Halberstam largely ignores the New York Times, explaining that much has been written about the paper in the past and citing his "personal and ambivalent" feelings toward his former employer.) Journalism critics may argue that a newsmagazine, a TV network and two daily papers on opposite coasts are not strictly comparable, and they will be right. But Halberstam does not compare them. Instead, he constructs a vast mosaic...