Word: slow
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Dates: during 1970-1979
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Burns reacted by restricting the money supply so tightly that the prime interest rate on bank loans to business shot up to an unheard-of 12% in 1974. And during the slow recovery from the recession. Burns kept money growth moderate, angering liberal Democrats in Congress and giving no help to the upcoming campaign of Gerald Ford, who left Burns pretty much alone. Burns' explanation: "I do not believe I exaggerate in saying that the ultimate consequence of inflation could well be a significant decline of economic and political freedom for the American people...
...member countries, the organization predicts a composite growth rate of 3.5%, the same as 1977, and a jobless rate of 5.5%, up nearly one-half of 1% from 1977. Worst of all, it warns that the pattern of slow growth and high unemployment could become permanent for the world's industrial democracies, especially if governments throw up more protectionist barriers to trade in an attempt to save jobs...
...music world as a talented keyboard artist who sings moving ballads. Joel got that image with the release of Piano Man, his debut album on Columbia Records, which followed a virtually unknown and very rare release called Cold Spring Harbor. The title track from Piano Man, along with other slow ballads such as "Captain Jack" and the more upbeat "Ballad of Billy the Kid," created the in age for Joel, and he has continued it with songs such as "Miami 2107" and "I've Loved These Days...
...Stranger, Joel's latest release, the native Long Islander who mentions New York in almost all his songs appears to be telling the world that he can do more than just coast through slow, moving ballads. He already hinted at that hidden diversity on the Turnstiles album with a bluesy tune called "New York State of Mind" and upbeat rockers such as "All You Wanna Do Is Dance" and "Say Goodbye to Hollywood." The last song overflowed with the famous heavy Phil Spector drumbeat that pervaded the rock...
...will probably never break open the AM charts ("Stairway to Heaven" is one of the few songs that ever made the rise to fame despite a more-than-seven-minute duration), but the song stands out as an example of Joel's tremendous talent as a vocalist/instrumentalist/composer. From the slow, ballad-like start to the well-rhythmed second section, to the rapid, light-rock middle of the song, Joel controls all the elements of his music as he reminisces about high-school days. Amidst a superb clarinet melody and the fantastic saxophone that Richie Cannata always adds to Billy Joel...