Word: rapid
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Right from the start Grunwald attracted notice. His first boss at TIME remembered him as "driven, willing to work terribly hard." Others soon noted what graced that drive: a capacious intellect, an incisive wit and a consistent ability to turn out elegant, exact prose. His ascent was rapid, and he became managing editor in 1968. Grunwald transformed TIME. He instilled new depth and vitality in the formula developed by Henry Luce and Briton Hadden...
...Nothing so far has been able to stop the bull. Not worries about gargantuan budget and trade deficits. Not a sharp drop in the value of the U.S. dollar between 1985 and mid-1987. Not even the stock-market equivalent of the law of gravity, specifying that the most rapid advances ought to be broken now and then by a substantial downward correction in prices...
...agreement were settled, the United States' only option for shielding the continent from Soviet coercion would be a rapid buildup in conventional forces. However ideal, this option would be impractical considering the country's already strained fiscal resources. Nuclear weapons just happen to be cheap, and increasing our expensive conventional armies would wreak havoc on the budget deficit...
Such writers are frightened--and rightfully so--by our sluggish economy, our losses in international trade, and our rapid transformation from the world's largest creditor to the world's largest debtor in the space of a few years. They have watched the United States' share of the world economy drop from nearly half to close to a quarter. They observe the growing power of the Japanese and Germans, and they say the decline is unstoppable. They chart the failures of our military power in Vietnam and now the Gulf, and they cry "Uncle...
There is widespread corruption in the bazaars because of the rapid growth of the black market, which now pays at least ten times the official rate of exchange for foreign currency. When the Cabinet discussed the matter recently, Khomeini reportedly vetoed the idea of imposing harsher sentences for black marketeering because he thought it would only lead to greater public frustration...