Word: slumping
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Dates: during 1980-1989
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...Vegas Hilton last week to address a standing-room-only crowd of 3,000 delegates to the National Association of Home Builders, the mood was distinctly chilly. In the past two years, sky-high and gyrating interest rates have pitched the American housing industry into its worst sales slump since 1946. Now a rising chorus of critics in the Administration and Congress has begun blaming Volcker for housing's plight and for the recession that is spreading through the economy...
...Harvard, center Michael Watson (two goals against Brown) has broken out of his scoring slump, and the new first line of Watson-Greg Britz and Greg Chalmers is being counted on to produce Slumping Greg Olson. Harvards leading goal-scorer a year ago, showed signs of life with a goal Wednesday, and his recovery is also vital to a Crimson stretch...
...only interesting aspect of the contest was the reemergence of Harvard captain Donald Fleming who scored 16 points as 30 minutes and showed hours quickly he could regain his offered touch after a sever four slump...
Hoover was rather dour by nature-Secretary of State Henry Stimson described a White House meeting as "like sitting in a bath of ink"-and he insisted that reduced spending and a balanced budget would end the slump. "Nobody is actually starving," Hoover said. "The hobos, for example, are better fed than they have ever been." Other U.S. officials were equally astute. Said Treasury Secretary Andrew Mellon in 1930: "I see nothing in the present situation that is either menacing or warrants pessimism." (Joke of the day: Hoover asks Mellon, "Can you lend me a nickel to call a friend...
Figures released last week gave no sign of an early end to the business slump that is now seven months old. The Commerce Department reported that the gross national product fell at a steep 5.2% annual rate during the last three months of 1981, the biggest drop since the 9.9% decline during the second quarter of 1980. In the construction industry, one of the hardest-hit sectors of the economy, housing starts last year were at an annual rate of only 1.1 million, the lowest in 35 years. Early signs for 1982 are not much more encouraging. Treasury Secretary Donald...