Word: slowdown
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Dates: during 1980-1989
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...economy gathers strength, the credit needs of private business could collide with the Government's heavy borrowing and push interest rates higher. Some economists fear that a serious slowdown in growth, or even a new recession, could come in 1985. Warns Henry Kaufman, widely respected chief economist for Salomon Brothers, the Wall Street investment firm: "The durability of this economic expansion is going to be significantly limited by the huge deficits in the federal budget." Industry leaders share that anxiety. Says John Smale, president of Procter & Gamble: "The size of the federal deficit is a national problem of substantial...
...business, then anguished negotiations, and finally a compromise maintaining spending at levels a bit higher than currently scheduled. What makes these prospects especially depressing is that there is strong bipartisan agreement on what should be done: a deal wherein the White House would swallow tax increases and a slowdown in defense spending, and Congress would quit opposing cuts in social spending...
When times were relatively prosperous, most of the 50 million Filipinos tolerated martial law. But like many developing countries, the Philippines was hit hard by the worldwide economic slowdown and the prolonged slump in commodity prices. As the pie shrank, so did public tolerance for repression. Inexorably, the radical left, a negligible force when Marcos took power, gained strength...
...over the past few months, for example, has slowed the pickup in construction. The Commerce Department reported last week that new housing starts in July, at an annual rate of 1,741,000 units, were down .6% from June. Otto Eckstein, a Harvard economics professor, predicts that the housing slowdown will help reduce G.N.P. growth in the fourth quarter to a 5% annual rate. For an economy in which inflation remains a constant threat, that may be a better cruising speed than the current pell-mell pace...
...that erupted into rioting. The powerful 27,000-member National Conference of Copper Workers called for a national strike. Other unions, arguing that there was not adequate organization for the work stoppage, resisted such precipitous action. Instead, the opposing sides called for a boycott of schools and a traffic slowdown...