Word: plummets
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...year, U.S. GNP would drop $272 billion, while inflation would skyrocket by 20 percent and unemployment would jump by 2 per cent. And if a war, natural disaster, or sabotage were to cut off all Persian Gulf oil, the GNPs of the U.S. Europe, and Japan would plummet by 13,22, and 25 per cent, respectively. These catastrophes could cause a wholesale shifting of alliances as Western nations pleaded, or fought, for oil-and, the authors claim, could prompt a global war as nations scrambled for diminished oil supplies. Not a pleasant picture...
...racing upward at the stunning annual rate of 106.8%. Ironically, that is even a little higher than the rate that prompted Brazil's generals in 1964 to overthrow duly elected President Joáo Goulart and establish a military dictatorship. Meanwhile, the Brazilian cruzeiro continues to plummet in value-from 26 to 54 per $1 during the past twelve months. Unemployment is climbing, and only a fraction of the young people entering the labor pool each year ever find jobs. One consequence: alarming crime rates in the ever more overcrowded cities...
Unfortunately, when the invisible hand of the free market spanks the Big Three, somebody has to lose, and that usually means the workers. Sales plummet, stocks pile up, production stops; in some cases, such as the Ford plant in Mahwa, New Jersey, the closing is considered permanent. All the closings in the current rash of layoffs affect plants producing large and midsize cars or trucks. Meanwhile General Motors' Tarrytown, New York plant is working overtime to keep up with the burgeoning demand for subcompact X-cars...
...well aware that his present popularity rests on the practice of Americans supporting a President during a crisis in foreign affairs. If Carter stumbles while handling today's treacherous foreign policy issues, or if events overseas simply turn against him-and the U.S.-then he could as easily plummet again in public estimation. "If Kennedy goes out before that happens," says a Carter aide, "we're golden...
...mountainous paper work, the Swiss Gold Pool, which comprises that nation's three largest commercial banks, voted to shut down all trading in gold both Thursday and Friday afternoons. No one seemed to have a guess whether the price in Zurich would shoot through the roof or plummet through the floor when the Swiss market reopens for full and unrestricted business this week...