Word: slump
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Dates: during 1980-1989
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Although Volcker has seesawed at times, he has generally kept on course so well that many critics blame his tight-money policies for the sharpest U.S. business slump since the Great Depression. "By mid-1981 inflation was under control," says Michael Evans, a Washington-based economic consultant. "But Volcker overstayed his welcome. He didn't ease up until mid-1982, and that turned a moderate recession into the worst one ever...
...economy, which looked so feeble just six months ago, is snapping back from the most painful slump since the Great Depression with a vigor that is surpassing even optimistic expectations. That was the conclusion of TIME'S Board of Economists, which met last week in New York City. Said University of Minnesota Professor Walter Heller, who was chief economic adviser in the Kennedy and Johnson Administrations: "After several years of recession and stagnation, this recovery is the real thing...
Stray Cats, Men at Work, and Adam Ant are hardly familiar names to most people over 30. Yet they are among the leaders in the revival of pop music. After a four-year slump, sales of records and tapes have begun heading up again. Says David Geffen, head of Geffen Records, one of the most successful firms: "This is going to be a good season. Things are finally starting to turn around...
...biggest threat still facing Jamaica is the worldwide slump in the aluminum industry, which serves as the backbone of the economy, Seaga said. In order to stave off heavy losses the U.S. has been buying up surplus Jamican bauxite, the raw form of aluminum...
...songs from the film's nonstop pop-rock score, has sold 700,000 copies in two weeks, and is now moving off the shelves at the rate of 50,000 to 100,000 a day-welcome news to a music business that has been in a four-year slump. Says Jack Kiernan, executive vice president of lucky PolyGram records: "A dealer in Chicago just told me, 'It feels like 1978 all over again.'" That was the year of Paramount's Saturday Night Fever, another movie about a working-class dancer, which grossed $258 million worldwide...