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Dates: during 1970-1979
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This year, real gross national product -total output of goods and services, discounted for inflation-probably rose only 3.8%. But consumer prices jumped so rapidly that in December they are likely to average 9.5% higher than at the end of last year. Result: the President, who began the year trying to prod the economy to faster growth, shifted gradually to a tight-budget policy and proclaimed wage-price guidelines that stop just short of mandatory controls. When even those measures failed to stop inflation and the sickening plunge of the dollar, President Carter on Nov. 1 welcomed a sharp increase...
...other goods by consumers before prices go up even more, would continue to keep expansion rolling through much of next year. It would be nothing to cheer about, he adds, because inflation would continue to accelerate and the Government would have to press down even harder on the economy. Result: a recession that does not start until late 1979 but is then worse than anybody now foresees, lasting for as many as four quarters and sending the unemployment rate...
...Institute of Neurological and Communicative Disorders and Stroke was sufficiently intrigued to invite Matinyan and the Polenov's director, Veniamin U. Ugryumov, to the U.S. in 1976. American researchers are trying to duplicate the rat experiment, but Dr. Murray Goldstein, NlNCDS's deputy director, says that preliminary results are disappointing. In Leningrad, Ugryumov acknowledged that the treatment is "complex" and involves a number of factors besides the enzyme, including psychological ones. In Waldrep's case, he added, "all that combined to produce the result: the immobile patient has regained ability to move by use of his back...
...Pemex hopes to lift production from its present 1.5 million bbl. a day to 2.5 million by 1980. At the same time, it expects to triple its oil exports to 1 million bbl. a day, mainly to the U.S. (whose total imports now are 9.1 million bbl.). As a result, oil earnings are expected to hit $8 billion annually...
...Moreover, it has a recurring weakness for the kind of tunnel vision that imagines a glimpse into Plato's Retreat reveals the daydreams of the inhabitants of Texarkana. So it is useful to remember the warp of many impressions of the '70s that have gained currency. Some result from the tendency to mistake the new and exotic for the prevalent and enduring...