Word: slacked
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...that economic disruption can be avoided no matter what steps the nation takes. But the best hope for avoiding real trauma is to cut consumption, conserve supplies and, at the very least, make do with 700,000 bbl. less of crude per day. Such an effort would put some slack in worldwide petroleum supplies and help restrain prices. More important, it would also show Iran and the world that the U.S. can start breaking its addiction to the demon...
...fight unemployment. A higher level of joblessness is tolerable today because so many more people are at work, and thus, if one family member loses his or her job, there is a better than 50% chance that another family member is collecting a paycheck and can take up the slack. This is a reason why the Federal Reserve Board felt prepared a month ago to put on extremely tight credit clamps, risking a jump in unemployment just as a recession appeared to be developing...
...bright side, Noel Scidmore and Buck Logan are healthy and have been running well most of the season. McNulty, who turned in his best race of the year last week at the Heps, and Peter Johnson, with freshmen Eric Schuler and Bruce Weber, could take up the slack...
...SoHo defense, which has yet to yield any points this year, picked up whatever slack the offense left as it completely shut off any Eliot threat...
...standard of living, however, can crumble in different ways. Volcker's chosen poison is to take up inflation's slack by letting prices and business production outstrip the consumer's buying power. As Andrew Tobias has pointed out, though, the U.S. pays $65 billion annually to foreign oil producers, and that by far should be the chief target of any anti-inflationary program. Let the "living standard" that has Americans riding mammoth cars and wasting electricity fall, not the standard that keeps food on their tables and money in their savings accounts...