Word: peak
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TIME's board predicts only moderate relief. The peak of inflation has been reached, but the road down will be slow. David Grove, a private consultant and former chief economist for IBM, foresees a 1980 inflation rate of 9.5%, or double the level of only three years ago. Says he: "Inflation will continue as long ahead as we can see." Okun maintains that the latest surge of inflation has placed the economy on a higher price plateau, where it will stay for years to come. Even after the recession is over, he predicts, prices will be increasing...
Like the children of Hamelin chasing the Pied Piper, investors last week continued rushing to put their paper money into hard goods. Gold scaled yet another peak on the London exchange: $397 per oz., almost double a year ago. Prices soared for platinum and silver, and even copper that was 81? per Ib. two months ago sold...
...quasars were about 10 billion light-years from earth (meaning that the light detected at Kitt Peak had left the objects 10 billion years ago), and both were receding from the earth at two-thirds the speed of light. What was most unusual was that they were only some 150,000 light-years apart-a stone's throw by cosmic standards-and had virtually identical light spectrums, which meant that their physical characteristics, as well as their velocities, were the same...
...consequence of Einstein's general relativity theory: if a very massive object were located almost directly between the earth and a distant star, its tremendous gravity would act as a "gravitational lens" that could bend the starlight into two different paths. To produce the effect observed at Kitt Peak, the astronomers calculated, a huge galaxy or a black hole at least 10 trillion times as massive as the sun would be required...
...Greenfield and Bernard Burke, all from M.I.T., who analyzed signals from the quasars received at the Very Large Array (VLA) antennas of the National Radio Astronomy Observatory near Socorro, N.M. What resulted was a radio map that, with one important exception, coincided with the images seen with the Kitt Peak telescope. The difference was that the sensitive radio antenna array discerned two jets of material that seemed to be shooting from one of the quasars. Explains Physicist Burke: "Quasars do have outbursts and send out material that gives off radio noise without producing much light...