Word: rockets
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...most significant events in history are not always immediately recognized for what they are. In school, we learned that the linchpin of the 1920s was the Sacco-Vanzetti case. Today we realize that Robert Goddard's experiments in rocket propulsion during that period were much more important for the distant future. When you look at the Nixon resignation from the perspective of drama, there are few parallels. But as to its cataclysmic properties-well, let's wait...
...major accomplishment of SALT I was its ban on widespread installation of anti-ballistic-missile (ABM) systems. Under the terms of the treaty, the U.S. and the Soviets were allowed to erect anti-nuclear-rocket defenses at only two sites-one to protect each country's capital, the other to shield an intercontinental-ballistic-missile (ICBM) launching site. So far, each nation has installed ABMs at only one site. Moscow has been ringed by the Galosh ABMs, while the U.S. has protected its ICBM launchers at Grand Forks...
What gives the Soviets this ability is the greater power of their rockets. The S59 and the new SS-18 have "throw-weights" capable of launching warheads packing 25 megatons, equal to 25 million tons of TNT. The most powerful U.S. rocket, the aging Titan 2 (of which 54 are still in operation), can accommodate only a ten-megaton warhead...
...short-term interest rates rocket upward, corporations are also being forced to pay higher interest on the bonds they issue for 20-or 30-year periods. As recently as six months ago, such bonds sold for a rate of 7.9%. Last week Ohio Power Co. tried to sell $150 million in bonds at a 10⅛% rate but even then had difficulty in attracting lenders...
Eerie Drive. The following day, after taking the Kissinger shuttle to Damascus, we were driven by the Syrians in the direction of Mount Hermon, along a completely unprotected road. There were few houses. Once in a while we spotted an antiaircraft site or Soviet rocket installations. The drive was eerie. We felt as if we were standing absolutely naked in a town square. Anyone could look down at us from Mount Hermon and even from the smaller hills below it. There was no place to hide...