Word: slowdowns
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When they were asked what problem most frightened them, people had trouble deciding between runaway inflation (55%) and a further slowdown in the economy...
INFLATION will continue steaming along at double-digit levels through the year's first quarter, then begin tapering to as low as 7% or 8% by year's end, as measured by the Consumer Price Index. A main reason will be economic slowdown in other countries, as well as a moderation in commodity prices. Robert R. Nathan, who heads an economic consulting firm in Washington, feels, however, that an effective controls program could reduce inflation by three or four percentage points from current levels. In the absence of tougher Government controls, Joseph A. Pechman of the Brookings Institution...
Some states and some cities, like some people, are hurting more than others. Michigan has been particularly hurt by the auto slowdown; in Flint, a big builder of Buicks and Chevrolets, the unemployment rate is more than 14%. Delaware, California and New Jersey have also been clobbered, with the inner cities hit worst of all. "In the spring it took 15 minutes to get your unemployment check and get out," says Charles Johnston, an out-of-work carpenter in Trenton. "Now it takes from an hour to an hour and a half." The South still has a lower unemployment rate...
...summit conference produced no overwhelming objections from economists to the basic thrust of Ford's current policies: somewhat reduced Government spending and a continued mild crimp in the money supply. There was also general approval of Ford's plan to ease the impact of an economic slowdown on the poor through tax reforms and job programs...
...charged particles more intense than usual, disrupting radio communications on earth, creating exceptionally bright northern (and southern) lights, and affecting global weather patterns. Prevailing west-to-east winds will moderate, decreasing their contribution to the earth's rotation and allowing it to slow ever so slightly. The abrupt slowdown would provide the necessary nudge, as Gribbin and Plagemann put it, to "agitate regions of geological instability into life." Many quakes will occur in susceptible regions round the globe, but the authors have no doubts about which will be hardest hit: "The Los Angeles region of the San Andreas Fault...