Word: pasts
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Dates: during 1970-1979
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...press and television once swarmed all over, then abandoned. An English historian, when asked how valuable newspapers are to his own work, didn't express the usual misgivings about their accuracy. Newspapers would be more useful to historians, he said, if they devoted more space to the immediate past and less to the immediate future. More useful to readers...
Compared with past downturns, some of the current cutting is following unusual patterns. In previous recessions, forms of entertainment and diversion such as books, records and movies flourished during hard times because they were relatively inexpensive. But they are no longer so cheap, and therefore no longer recession-proof...
...country-and-western ditty that has come out of Atlanta and was written by Georgia's Lieutenant Governor Zell Miller. Miller's lament may never make the Top Forty, but a great many of his countrymen surely share his gloom about having to "do without." As in past times of leaping prices and deepening economic slump, Americans are taking seriously the task of cutting back their household budgets...
...seven months. At the same time, the spending power of Americans has continued to decline. Mostly because of inflation, but also because taxes have been creeping upward, the actual buying power that people have been getting from the money in their paychecks has declined by nearly 4% over the past twelve months. So more and more, almost as a matter of survival, discretionary spending is being cut back...
...been highly selective. Says Georgia State University Economist Donald Ratajczak, speaking about the status of retail sales: "The discount and the high quality lines are good; the in-between is dead. Top and bottom are where the action is." Translation: in marked contrast with their behavior during past economic slowdowns, people are not closing their wallets entirely but are scrambling for bargains, on the one hand, and, on the other, scooping up top quality, long-lasting goods at any price...