Word: sky-high
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...badly hurt by OPEC price increases. The country imports 75% of its oil, and most of that had come from two of the shakier cartel members, Iran and Ecuador. In March, Iran broke its contract, and Ecuador has also stopped selling oil to Chile, forcing it to pay the sky-high spot-market price. Fuel bills jumped to an estimated $771 million last year, from $429 million in 1978, torpedoing projections for an inflation rate of under...
...prices go as far as $35 per bbl., the impact on oil inflation and the world economy would be severe. U.S. consumer prices would continue rising at a dizzying double-digit pace, forcing the Federal Reserve to stick by its anti-inflation policy of sky-high interest rates much longer than expected. The almost inevitable result: a deeper recession than so far forecast. Despite slumping growth, the nation's oil import bill, which is projected to total $61 billion this year, would leap to $96 billion in 1980. That in turn would keep the dollar's value dropping...
...reason Cantabrigians care so much about municipal elections is that the stakes are sky-high. The entire nine-member council turns over every two years; the potential for change in the city is enormous. And even if only a single seat changes hands in Tuesday's balloting, the effects on city policy are potentially massive...
Everywhere in the U.S.-in towns and villages as well as in cities and suburbs-the cost of shelter is going through the roof. Despite runaway rents, galloping home prices and the difficulties of finding mortgages and paying sky-high interest rates, demand remains strong. The availability of apartments, coops, condominiums and houses is tight, and there is no sign that the housing boom is about to bust. Meanwhile, the worsening shelter squeeze is changing the way America lives-for the worse...
...tenacious feeling of inferiority to the Soviet system. Many American analysts would disagree, believing that the U.S. has become complacent because of its sense of military superiority to the U.S.S.R. But Aron maintains that Westerners sometimes feel that the Soviet leaders "possess an infernal machine capable of blowing capitalism sky-high or else some virtually infallible instrument for guiding their strategy." This crisis of confidence has been accelerated in Europe by the Third World's pervasive contempt for the West. Aron believes that the tendency of Africans and Latin Americans to blame the persistence of poverty on colonialism...