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...quieted down easily. Otmar Emminger, president of the West German Bundesbank, confessed that he had "given up hope that the markets would react to logic." Britain's Chancellor of the Exchequer Denis Healey found the entire world monetary system to be "in disarray" to the point of peril. The dollar rose a bit after the Senate's compromise on natural gas, the improved U.S. trade figures for August and Jimmy Carter's brief address to the IMF meeting pledging his "reputation as a leader" in support of the dollar. Still, delegates were disappointed by his lack...

Author: /time Magazine | Title: Business: Cheer and Gloom at the IMF | 10/9/1978 | See Source »

Aware of the peril, Robert Strauss last month huddled in Washington with congressional leaders in an effort to get an interim bill that would delay the duties. To his dismay, he found the mood on Capitol Hill running so strong against freer trade that he feared the bill would be either killed or encrusted with various protectionist amendments. He reported this to the Europeans and received the rocket from Haferkamp...

Author: /time Magazine | Title: Business: A Ticking Time Bomb in Trade | 10/2/1978 | See Source »

Trying to cope with the worst dollar disaster yet, the Carter Administration last week seemed in peril of following what has become a distressingly familiar pattern: a portentous roll of publicity drums that builds up to a toot on an uncertain trumpet. Early in the week the dollar came under a concentrated cannonade from some financial Guns of August, and its steady, summer-long retreat turned into a disorderly rout. It fell 4½% against the Swiss franc in a single day, while the price of gold, the ultimate refuge for investors worried lest their dollars become worth much less...

Author: /time Magazine | Title: Business: Greenbacks Under the Gun | 8/28/1978 | See Source »

Ending the crisis of vocation. The shortage of priests and nuns in the West is near the peril point in nation after nation, though there are signs that the exodus and the precipitous drop in new seminarians may both be bottoming out. In West Germany's church, engorged though it is with $1.9 billion a year from public taxes, the Limburg diocese expects to have more lay missioners than priests running parishes by 1985. The major reason for the crunch is the rule of celibacy. The next Pope may be forced to re-examine that rule?and the role...

Author: /time Magazine | Title: In Search of a Pope | 8/21/1978 | See Source »

...airline a week in advance to find out the departure day. The price: $299 round trip New York-London, vs. $764 for regular economy class. Or, for the same price, the passenger can buy a ticket on the day of departure and "stand by," hoping for a seat. The peril: none may be available. The second is APEX (Advanced Purchase Excursion), which must be bought three or four weeks in advance. The price: $399. The advantage: a confirmed reservation. Domestically, there is an absolute plethora of fares. The Big Four?United, American, TWA and Eastern?all offer a Super Saver...

Author: /time Magazine | Title: Flying the Crowded Skies | 8/14/1978 | See Source »

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