Word: reagans
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Several Government reports issued last week gave added credence to the Kaufman view that interest rates would stay down. The new statistics suggested that the U.S. economy is about as energetic as a beached jellyfish and has not yet started the second-half rebound that the Reagan Administration has been predicting. The Federal Reserve Board revealed that industrial production rose only .2% in July, putting it just 1.4% above its level of a year ago. The Commerce Department said that the combined total of business sales at the retail, wholesale and manufacturing levels was down 2.1% in June...
...addition to the sluggish economy, an important factor in the dollar's weakness may be fears that President Reagan, because of his recent brush with cancer, will not be able to serve out his full term. Says Alfred Roth, the chief currency trader at New York City's Chemical Bank: "So much of this market is not just economics. It's pure psychology, and Reagan's health has done a lot to hurt the dollar." Agrees Pierre Rinfret, a New York-based economic consultant: "Confidence in President Reagan's leadership made the dollar a strong, upbeat currency for roughly three...
...impersonation. His Big Adventure (directed by Tim Burton) consists of trying to recover his stolen bicycle. His big mystery lies in his strange appeal for adolescents. Is he yet another vehicle through which they can sentimentalize their childhoods? Is he just the latest grotesque fad? Is he to the Reagan era what Pinky Lee was to Eisenhower's? Impossible to say. But fair warning: this movie could induce terminal boredom in adults and rot the minds of the young...
Bumper stickers and stadium banners proclaim BRUCE--THE RAMBO OF ROCK! "In the midst of a lot of music about love, he's a spokesman for patriotism," says Larry Berger, program director of New York City's powerful WPLJ-FM. "He's the Ronald Reagan of rock 'n' roll." In fact, the only thing Springsteen has in common with Stallone's marauding murder machine is a bandanna around the forehead; and the one time the President tried to cut himself in on Boss territory ("America's future rests ... in the message of hope in songs of ... New Jersey...
...David Stockman sits and scrawls on his yellow legal pad all his tart recollections of how things really work in the Reagan White House, he is earning about $2,200 an hour. Figuring, that is, that the departing Budget Director is toiling away eight hours every day to produce by his Dec. 1 deadline the blockbuster book for which Harper & Row has just given him a prodigious advance of $2 million plus. A handsome sum indeed, enough to pay about five minutes' worth of the deficit in the Administration's own federal budget for this year. It would have taken...