Word: shocks
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...Although 1975 was a pretty good year for the Red Sox, it was not a good one for the U.S. economy. Then as now, we were experiencing a serious oil price shock, sharply rising prices for food and other commodities, and subpar economic growth. But I see the differences between the economy of 1975 and the economy of 2008 as more telling than the similarities. Today's situation differs from that of 33 years ago in large part because our economy and society have become much more flexible and able to adapt to difficult situations and new challenges. Economic policymaking...
...price shock of the 1970s began in October 1973 when, in response to the Yom Kippur War, Arab oil producers imposed an embargo on exports. Before the embargo, in 1972, the price of imported oil was about $3.20 per barrel; by 1975, the average price was nearly $14 per barrel, more than four times greater. President Nixon had imposed economy-wide controls on wages and prices in 1971, including prices of petroleum products; in November 1973, in the wake of the embargo, the President placed additional controls on petroleum prices.2
...Women’s New England Championship, looking up at five national qualifiers from seventh place. “We’re very disappointed and very bummed,” junior captain Megan Watson said after the regatta. “Not qualifying came as a shock, because our team has a great tradition of qualifying. The goal isn’t just to qualify, it’s to get to nationals and do well.” The team ended the season ranked No. 12 nationally. Led by the A-division pair of skipper Watson and freshman...
...didn’t feel personally in danger at that moment,” said Block, recalling the episode. “People have said when they listen to me narrate what’s going on that I sounded remarkably calm and maybe I was in shock, or maybe it was just because I hadn’t seen buildings falling down around...
...suggest that it's a bit disingenuous for a political candidate to feel compelled to choose a congregation based on a political, rather than purely spiritual, calculus. Should he choose to join a predominately black church, it's highly possible that what's delivered from the pulpit could, again, shock people unfamiliar with the nuances, cadences - and occasionally harsh rhetoric - of the black American church experience. "I do think there is a cultural and a stylistic gap that has come into play on this issue," Obama said Saturday. "I haven't figured out exactly how this is managed...