Word: slowdowns
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Dates: during 1970-1979
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...Must the entire non-Communist world go through a repetition of the oil-fired recession of 1974-75? The answer will not be clear even when the final gavel ends the OPEC meeting in Geneva and the economic summit in Tokyo. But the prospects are cheerless: at best, a slowdown in global growth, accompanied by more inflation; at worst, an outright recession?also accompanied by more inflation. Already, the downturn-that-might-be has picked up a name. Washington economists are calling it Khomeini's Recession?after the Ayatullah Ruhollah Khomeini, whose Iranian revolution began the oil shortages and rocketing...
...disappeared quickly after OPEC turned on the spigot following the end of the Arab oil embargo. The cartel seems unlikely to do so again, and even if it did, no one could trust an increase in output to last. Meanwhile, the threat of economic slowdown and runaway inflation in the non-Communist world gets stronger every...
...been dead wrong elicits the characteristically brassy reply, "Yes, and I'm going to keep on saying it until I get it right." He expects the decline in gross national product to last from the second quarter of this year through the first quarter of 1980. The slowdown, in Evans' view, will cause inflation to drop from its present 13% rate to about 8% by 1979's end. Chances of a leveling off of retail food prices are particularly bright because of the huge grain stockpiles and the possibility of another bin-busting crop this fall...
...stifle inflation. As Blumenthal noted last week, the main sources of that spiral are food, fuel and housing costs-none of which are covered by the guidelines. Thus the best thing the White House can do is to keep punching, take advantage of lucky breaks and hope that the slowdown will arrive in time to avoid any more radical, and risky, approaches...
While the gasoline shortage and the economic slowdown have hurt sales for all the automakers, times have been particularly rough for the weakest of the Big Three, Chrysler Corp. After the company lost an unexpectedly large $53.8 million for the first quarter, Group Vice President Harold Sperlich admitted, "You cannot stand too many quarters like that and keep the company afloat." Some Wall Street analysts expect that 1979 losses will top last year's $204.6 million...