Word: slumping
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Dates: during 1970-1979
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Carter still argues that these steps will curb the inflation without causing a slump in 1979. Last week he told a meeting of the Business Council that "we do not anticipate a recession next year"-though he added that warnings of one "can become a self-fulfilling prophecy." But among the ten members of TIME'S Board of Economists, only University of Minnesota Professor Walter Heller will give even fifty-fifty odds on avoiding a downturn. The others all agree that there will be a recession, but that it will be mild and brief, lasting only two or three...
Harvard's women's basketball team broke out of its early-season slump with a vengeance yesterday by pounding Cornell, 70-33, and advancing to the finals against Ithaca in the Cornell Tournament in Ithaca...
...South Dakota, a diehard opponent of natural gas deregulation, mounted a one-man filibuster that delayed the final vote for three days. Even after a 71-to-13 cloture vote, Abourezk, who is retiring from the Senate this year, obstinately continued his filibuster, causing Majority Leader Byrd to slump red-faced with anger in his chair. Abourezk, with a handful of supporters, kept talking for 15 hours, then gave up. Hours later, the bill passed, by 60 to 17 in the Senate and 231 to 168 in the House...
...frenzy with which corporations, banks and other holders of dollars are stampeding to unload them. The selling has driven the dollar down 19% against the German mark, 27% against the Japanese yen and 34% against the Swiss franc in the past year. Washington seems incapable of stopping the slump; even optimistic statements by the White House nowadays often have a perverse effect. Last week, for example, President Carter said at his news conference that congressional passage at long last of his battered energy legislation should trim the U.S. trade deficit and bolster the dollar. Next day the dollar...
...slump is not across the board. The Golden State, like the rest of the country, continues to have a modest housing high in the "affordable" $55,000 to $75,000 price range. But buyers are beginning to resist the three-bedroom tract house squished onto a postage-stamp lot for $122,900 - and a 10% mortgage rate. Ob serves David Shulman, a member of Governor Jerry Brown's housing task force...