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...that could batter the economy even lower. Some conservative economists predict that the result of the red ink will be higher interest rates. Says Burton Malkiel, an adviser to Gerald Ford and now dean of the Yale School of Organization and Management: "You have a $100 billion deficit running smack against a tight rein that the Federal Reserve has held on the money supply. That will push up interest rates...

Author: /time Magazine | Title: The Great Deficit Dilemma | 2/15/1982 | See Source »

...Gatwick Airport, stewardesses and ticket agents openly wept. Sir Freddie Laker, the swashbuckling British entrepreneur who had revolutionized transatlantic travel by slashing air fares, had abruptly announced that he was liquidating his debt-laden airline. Said one Laker counter attendant: "It's hit everyone, mate-like a smack in the mouth...

Author: /time Magazine | Title: Laker's Mayday | 2/15/1982 | See Source »

...Grand Canal ponte, just before one of Friz Freleng's manic critters slams into the lintel at full frontal force. The warning applies also to those attending this compilation of old Warner Bros, cartoon shorts. Beware of low gags, supersonic mayhem, polka-dot undershorts and the occasional smack in the puss-Sylvester J. Pussycat, to be precise. There is much unfettered mirth here from the rest of the Warner menagerie: from Bugs, the Cagney of lagomorphs, who plays Galahad and slickshooter to the splenetic Yosemite Sam in two of the best shorts (Knighty Knight Bugs, Wild and Woolly Hare...

Author: /time Magazine | Title: Cinema: Rushes: Dec. 14, 1981 | 12/14/1981 | See Source »

...preening editorials-about the press's "adversary relationship" with government and arm's length distance from sources. But a surprising amount of the news, like the Stockman story, comes from deals cut between consenting adults. The press finds these transactions awkward to talk about because they smack of collusion. Stockman wanted attention called to how brilliantly he slashed the budget; William Greider of the Washington Post wanted and got a good article for the Atlantic...

Author: /time Magazine | Title: Newswatch Thomas Griffith: Adversaries or Willing Victims | 11/30/1981 | See Source »

Pilot Jim Biggs nudges the stick forward and drops another 50 ft. to goose his prey. The fierce blast of noise and dust sends the horses galloping down a yard-wide path that leads smack into a steel-fenced pen. Just as they reach the gully, Robison digs two silver spurs into his sorrel and charges in behind them. Now the old mare at the head of the pack realizes her mistake. She frantically tries to turn but is swept along by the others...

Author: /time Magazine | Title: In Colorado: Chasing the Mustangs | 11/16/1981 | See Source »

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