Word: ratings
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Dates: during 1970-1979
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Retired Burger King Executive Harry Wilson formed the Dade Tax Revolt Committee in Miami last fall and set out to halve the county property tax rate, to $4 per $1,000 of assessed value. He gathered 15,000 signatures to put the proposition on the ballot next month. But the best laid schemes of tax revolutionaries gang aft agley. Because of a whopper of an error, Wilson's petition stated the proposed new rate as 4 mills per $1,000, meaning, for example, that the tax on a $100,000 house would be only 40?, rather than...
...hand. In Lusaka itself, laundry soap and detergents were in short supply; toilet paper and cheese were unavailable; and milk chocolate had become a rare luxury. A Lusaka car rental firm is in danger of closing because it cannot get spare parts. The nation's inflation rate is running at about...
...most anticipated recession in history has arrived earlier and with a more forceful jolt than expected. Instead of the gradual slide that economists were predicting would begin in midsummer or early fall, the second-quarter gross national product fell at a substantial annual rate of 3.3%. Most forecasters had anticipated that the downturn at worst would bring a decline of 2% or so. In a confidential revised forecast last week, some top governmental economists conceded that the slump will be worse than anticipated this year and will be followed by an "anemic" recovery...
They now predict that unemployment will rise to 8.2% by the fall of 1980-just in time for the presidential elections. That is well above the 6.9% rate predicted by the White House last month. Real G.N.P. is expected to drop 1.4% this year. Because the recession will hang on through next spring instead of ending late in 1979 or very early in 1980, real growth next year will be no higher than 1.1%, instead of the 2% forecast earlier. Finally, inflation will continue to rage at 11% through the end of the year and average close to 9% next...
...gasoline that kept many shoppers out of the stores. Yet there is no reason to look for an especially deep recession in the year ahead." Less optimistic is Robert Nathan, another member of the TIME board. He foresees a slump that could last six quarters and a jobless rate that could hit close...