Word: reasonable
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Dates: during 1980-1989
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Economist Sam Nakagama, chairman of the Manhattan-based consulting firm Nakagama & Wallace, suggests that the traditional business cycle may no longer be in operation. Reason: the removal a few years ago of many Government controls on interest rates has enabled the Federal Reserve Board to moderate swings in the economy. By letting interest rates move up and down more freely, the Fed has kept the economy from either overheating or stalling. Instead of going into a classic recession, says Nakagama, the economy has been pausing for short periods to catch its breath before moving to higher ground...
Edward Yardeni, director of economics at Prudential-Bache Securities, also sees an interruption of the business cycle, but for a different reason. Rather than an economy-wide downturn, he says, the U.S. has been experiencing a "rolling recession" that has moved from one sector to another without halting overall growth. While agriculture, the oil business and heavy industries like steel have slumped in recent years, high-tech companies, financial services and fast-food outlets have thrived. Now retailers and stockbrokers may be facing hard times, but farming and manufacturing are recovering...
...spreading ever westward. When Herman Ruether, interim director of the Chicago-based Palestine Human Rights Campaign, heard that the kaffiyeh was becoming fashionable, he said, "I started talking to people at random." The results of Ruether's informal poll: only three out of ten people cited politics as their reason for wearing the scarf. He adds, however, that during the most & recent episodes of violence in Israeli-occupied areas, his office received a large number of calls from Americans sympathetic to the Palestinian cause inquiring where kaffiyehs could be bought...
Part of the reason for this mistaken identity is that my very existence has to remain a secret to keep the government scientists off my case. I have managed it through a brilliant scam: practically everyone thinks I'm a puppet! Sustaining this conspiracy takes a few collaborators. My main partner is a onetime comic magician named Paul Fusco. He actually claims to have invented me. Sure, he talks like me, laughs like me, jokes like me, even sort of looks like me. But I'm 230 years old and he's 35, barely old enough to have...
There is sound reason for that harsh assessment. Perhaps the most extraordinary thing about Bush's career has been his consistent failure to fashion an agenda of his own, to display a broad set of principles, to show imagination or initiative. It is an unsettling trait for a man who would be leader of the free world...