Word: shock
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Dates: during 1970-1979
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...decontrol could be short-lived. On Aug. 31, the Emergency Petroleum Allocation Act, passed by Congress in 1973, will expire, and with it all federal authority to control prices. Unless an extension of the act is passed and signed into law by then, the economy will get the full shock of a jump in U.S. oil prices to the world level all at once-not over two years or so, as Ford proposes...
Stopgap Move. In fact, the cutbacks are unlikely to go that far. Beame described his budget as "shock therapy," and it was clearly intended to prod the state legislature into coming through with the $641 million in increased aid and taxing authority that Beame seeks. Last week, in a stopgap move, the state advanced the city $200 million in welfare funds; that will keep the city solvent at least through this week while Beame pursues other means of coming up with the $800 million that the city needs to pay its bills through June and thus avoid a financial last...
...Shock and Disney...
...Neill concedes that such conceptions are "very rich in future shock" and larger than anything yet attempted in space or even planned on the drawing boards of space scientists. But he is firmly convinced that they could be achieved with technology that is either already available or almost perfected. In fact, says O'Neill, the first space habitat-he thinks the word colony connotes exploitation-could be functioning by the start of the next century. Its early inhabitants would probably be "hardhat types," O'Neill says, but after the initial construction is finished almost anyone with a spirit...
...Copper, for example, rose nearly 300% in 17 months, peaking at $1.40 per Ib. a year ago; this month the price fell as low as 560. The roller-coaster performance took its toll on producers and consumers alike. The price upswing aggravated inflation in industrialized countries. The downturn sent shock waves through the nonindustrialized Third World nations, some of whom depend heavily on commodities production for income, and added to pressures for OPEC-style cartels for raw materials other than...