Word: sluggish
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Dates: during 1970-1979
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Critics contend that the investment credit, on top of the ADR, not only is inequitable but also fails to meet the immediate problems of unemployment and a sluggish economy. They point out that with industry running at only 73% of capacity, corporations have scant reason to buy more equipment. Thus the tax savings, in the opposition's view, is a windfall that would do little more in the short run than boost profits. Most labor leaders oppose the idea, maintaining that it would do little to whittle down the jobless rate in steel, aerospace, autos and other major industries...
...many people, the bonds at present appear to be as sound an investment as any in the land. The stock market has been sluggish; the glitter of go-go mutual funds has long gone; bank interest rates on ordinary passbook savings accounts have been at 5% or lower. If the President's freeze cools inflation, the savings bond rates will look even better. Insecure about the future, many small investors-particularly middle-aged blue collar workers-are seeking financial refuge in the Government's securities...
Slow Collections. The mission of Phase 2 will be not only to hold down prices but also to revive the sluggish U.S. economy. That will take some doing. Industry continues to idle along at 73% of capacity. Unemployment has hovered close to 6% for nine months straight. Even if Congress quickly passes the tax cuts and other measures submitted by the White House, Government economists concede that they will be lucky to wrestle the jobless rate down to 5% by next summer...
...will be Pittsburgh's steelmen, Akron's rubber firms and U.S. producers of copper, glass and leather. The investment tax credit will probably benefit the construction-steel and excavation-equipment industries to a lesser degree than the computer and machine-tool industries. Reason: with industrial production running at a sluggish 73% of capacity as a result of the recession, corporate planners will be much more likely to use the tax credit to modernize existing plants than to build new ones. As businessmen start to borrow money to finance these projects, banks and other lending institutions will feel a sharper demand...
Slow Motion. With such supervisors in charge, the building proceeded at a sluggish pace. One spot check of the building at 8 a.m. lasted 90 minutes and turned up not a single Local 210 laborer at work. Bateson foremen searched the building site in vain for certain workers whose time cards showed that they were on the job. The mystery was somewhat cleared up when FBI agents investigating another case discovered that many of the workers often wandered far away from the building site, tending their more lucrative bookmaking and loan-sharking activities. Pilferage was so widespread that Bateson officials...