Word: slowdowns
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Dates: during 1960-1969
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Despite their heavy military budgets in recent years, Russian leaders, like their American counterparts, have good reason to hope for an arms slowdown. Soviet defense expenditures cannot be precisely audited because they are largely hidden. Nonetheless, it is generally believed that Moscow's recent defense spending has been roughly equivalent to Washington's military budget (after the $30-billion-a-year cost of Viet Nam is subtracted from the U.S. figure). Yet the Russian gross national product is only about half of the American G.N.P...
Other Policies. The price of any slowdown, if it comes, would be some job layoffs, with ghetto dwellers among the first to suffer. Though that prospect is filled with obvious political and social perils, the current jobless rate-a 15-year low of 3.3% in December and January-gives the Nixon Administration some room for maneuver. So does the fact that a number of companies are "stockpiling" workers because of the shortage of skills, and may be inclined to hang onto them as long as possible, even if that means some short-term loss of profits. The White House nonetheless...
...corporate chiefs, who have long complained of a profits squeeze, fared better in 1968 than they had any reason to expect. They were beset by rising labor and material costs, year-long predictions of imminent economic slow down and the 10% income tax surcharge. But the slowdown never materialized, and many companies managed to offset higher costs and taxes by increasing their prices and generating more sales. The results from early-reporting corporations indicate that after-tax prof its climbed by 6% from the $48 billion of 1967 and at least equaled the $51 billion record...
...Signs of Slowdown. Amid such continuing symptoms of inflation, there were a few signs that the economy could be starting to slow down. Many of its so-called "leading indicators"-statistics that point to future trends-have stopped rising. Normally, such change portends a general slackening in about six months. The Commerce Department reported last week that Americans, who had saved only 6.3% of their incomes in the free-spending third quarter of 1968, socked away 6.9% last quarter. The figures confirm what retailers have already noted: a drop in consumer buying. Now, as expected, the squeeze seems...
...council foresees continued weakening in housing and consumer spending, a moderate $10 billion rise in federal spending, and strong gains in business outlays for new factories. The 10% surtax, along with federal spending restraints, will bring a "significant slowdown" in business during the first half of this year, said the council. The latest figures support that outlook. From November to December, retail sales slipped by 2% and housing starts...