Word: sharpe
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Dates: during 1970-1979
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...force seems called for, one possibility is that the fleet would blockade the narrow Straits of Hormuz, through which tankers carry Iran's oil to foreign markets. A blockade would cut off Iran's international revenues, but it would also produce a serious world shortage of petroleum and a sharp increase in prices...
Ohira's shaky political mandate also dooms his proposal for a tax hike to correct Japan's mounting deficit. The deficit, combined with a high inflation rate and a sharp drop in the yen, may have grave consequences for an already strained U.S.-Japan economic relationship. Japan has already begun to stopper its yen drain. These economic pressures will certainly curb Japanese willingness to liberalize import restrictions at a time when John Connally is bellowing about letting the Japanese sit in their Toyotas on the docks of Yokohoma. The only possible Japanese concession to American opposition prevails and cuts...
...Italy, pervasive kidnapping and a sharp drop in productivity led to "the logical next-step--the abolition of the debased currency in favor of people as a medium of exchange...in Turin, a $100 bill would procure a plump industrialist. In the provinces, it was difficult to get change for a judge or a factory owner, but the exclusive shops along the Via Condotti in Rome could easily break a bank president...
...steep rise follows an unexpectedly sharp decline earlier this year. Then, the major oil companies and the nation's 12,000 independent smaller operators, who account for about 80% of all drilling, were putting off new exploration. Major reason: uncertainty over the decontrol of oil prices and new natural gas pricing regulations. The turning point came in June when crude began to be decontrolled. Oil from wells "newly discovered" after Jan. 1, 1979, began to sell at $28.81 per bbl. delivered to the refinery, rather than the artificially controlled price of $13.86. The additional oil from older wells produced...
...story is about the Folly of Love. She can sum up the postwar history of a social class in a paragraph. She can effortlessly keep three levels of memory working in a seamless narrative. But in the end the stories are simply there-haunting, enigmatic, printed with images as sharp and durable as the edge of a new coin, relentlessly specific. "God protect us from generalizations," said Chekhov, the writer whose work Gallant's most resembles. "There are a great many opinions in this world, and a good half of them are professed by people who have never been...