Word: slumps
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Dates: during 1970-1979
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...trick is to keep a slowdown from becoming a slump...
Testifying before the Congress's Joint Economic Committee, Federal Reserve Chairman G. William Miller said that policymakers would be "walking through a very narrow valley in the next few months" and would need "tremendous skill" to avoid either another surge in prices or a quick slump back into recession, or perhaps both. Although Miller opposed his colleagues at the Fed on the need for another discount rate increase, he is persuaded that inflation is a more immediate peril than recession; he recommended that Congress postpone the 25?-an-hour increase in the minimum wage (now $2.65) that...
...Resorts Board Chairman James M. Crosby speculates that after being enlarged this summer, the casino will be bigger than any in Las Vegas and will eventually take in $100 million a year. Atlantic City officials have high hopes that the spinning wheels will pull them out of the massive slump this once glorious resort has been suffering. Fifty years ago, it was the leading vacation and convention center on the East Coast. Even before the casino turns a profit, the refurbished (at a cost of $35 million) hotel will be providing 2,000 jobs, increasing employment in Atlantic City...
...investment rush has been building for years, and now it is gaining momentum. One factor is the dollar's slump, which has enabled holders of West Germany's mark, Switzerland's franc, Japan's yen and other strong currencies to buy a piece of the U.S. at bargain prices. More important, in the new economic climate of high-energy prices, sluggish international growth and protectionist trade sentiments, the U.S. appears to be the country best suited to ride out the tempest. It also seems the nation least vulnerable to the terrorism that is ravaging Italy...
...malaise has its roots in the worldwide recession of 1974 and 1975. At first Sweden seemed to have found its own unique answer to the slump: ignore it so as to be ready for the expected global economic upturn. While other countries struggled with recession and layoffs, the Socialist government of Prime Minister Olof Palme simply subsidized industry. Companies were paid to maintain full production and full employment, even when they could not sell and had to stockpile their goods in anticipation of a surge in demand. The immediate result was a flush of apparent prosperity, which allowed militant unions...