Word: peak
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ECONOMIC PREDICTIONS. The real shocker. The Administration is now forecasting two full years of double-digit unemployment: 10.9% this calendar year, a trifle higher than the 41-year peak of 10.8% recorded in December, and an even 10% in 1984. By the fourth quarter of that year, when the nation will be choosing its President, the rate would still be 9.6%.* It would not get down to 6.6% until 1988. The reason, Reagan's economists predict, is that the national output of goods and services will rise only 1.4% this year and 4% in later years, too slowly...
Stormy meetings of the oil ministers last May and again in December failed to resolve the problems of quota cheating and price discounting. Pressure on the Saudis reached a peak last month. Their four main oil-company customers-Exxon, Mobil, Texaco and Standard Oil of California-threatened to turn to other suppliers if the Saudis did not lower their price. At conferences in London and Geneva, Yamani huddled with top executives from the four firms, who brought confidential figures to show the oil minister how much they were losing by staying with Saudi crude...
...sales of about 15%, but they are more optimistic than their counterparts at Ford or Chrysler. Officials there look for a more modest increase of 10%, to sales of about 6.3 million autos. That is paltry by past standards. In 1978, the industry's most recent peak, 9.3 million U.S.-made cars were sold. Says Maryann Keller of Paine Webber Mitchell Hutchins, regarded as one of the best among Wall Street's 20 or so auto analysts: "By historical standards it's still bad. But it's better than what the industry's been through...
...popular, respected state legislator, both descended from prominent pioneer stock, and their pride fired his ambition. But after Sam Ealy Johnson's fall. Johnson City and Blanco County struck back against their once-haughty denizens, systematically snubbing the Johnsons over a period of years. Humiliation reached a painful peak when Lyndon's high-school romance was thwarted by an angry father distrustful of his "dissolute, irresponsible" family...
...think I would make two points here. First, you're looking at a very volatile oil market. Some people characterize it as a peak-and-valleys syndrome. It's very difficult to expect the private sector to invest large amounts of capital banking on a specific oil price, to insure the profitability of that investment. Therefore, during this period it is highly likely that private investment and alternatives and options for the future will decline. I think that this puts a burden on government to try to enter the breach...