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...fact they have more money than ever (though their dollars are worth less than before). They are increasing their savings at a spectacular annual rate of $64 billion. If they could be tempted to part with some of that cash, retail sales and the stock market could soar. Businessmen have trimmed the overly large payrolls that they accumulated during the 1960s, and the nation could be ready for a surge in productivity, rising from last year's abnormally low gain of .9% to 4% or 5% this year and next. Administration spokesmen insist that the U.S. is poised to enter...

Author: /time Magazine | Title: Business: The Showdown Fight Over Inflation | 8/16/1971 | See Source »

...accept Burns' idea of a wage-price review board; Shultz persuaded him to reject it openly. It was Shultz who argued, over the objections of Paul McCracken's Council of Economic Advisers, that the Administration should base its 1971 policies on the expectation that the gross national product would soar from $974 billion to $1,065 billion. He confidently forecast that the target would be hit if Burns' Federal Reserve pumped out enough money, which it certainly has. For his part, Burns forecast a more realistic $1,055 billion, and the Commerce Department now projects that the year's figure...

Author: /time Magazine | Title: Business: The Showdown Fight Over Inflation | 8/16/1971 | See Source »

...Sudan in midsummer is an oven of a land where temperatures soar to 120° day after day and tempers tend to get even hotter. Since he took power 26 months ago, Major General Jaafar Numeiry, 41, leader of the ruling Revolutionary Command Council, has faced eight attempted coups, most of them during the summer months. Last week members of the army elite that governs this equatorial nation of 15 million staged the most confusing hot-weather spectacular since it won independence from Britain 15 years ago. In the space of a few days, rebellious officers toppled the government, imprisoned...

Author: /time Magazine | Title: World: Revolving-Door Coup | 8/2/1971 | See Source »

...team had an ideal laboratory. Jerusalem has up to 150 days of khamsin a year, during which time temperatures soar above 90° while the relative humidity plummets toward zero. Half of the city's population suffer from some kind of khamsin-related condition. For many, the misery is minor, such as swelling of the extremities. For others, how ever, the effects are far more pervasive...

Author: /time Magazine | Title: Medicine: Curing an Ill Wind | 6/14/1971 | See Source »

...also working to reform campaign spending laws. Gardner filed suit early in February against the Democratic National Committee, the Republican National Committee and the Conservative Party of New York, in an attempt to close loopholes enabling parties to receive large amounts of money, which allow political costs to soar and fraudulent practices to occur. "Political spending has gotten out of hand," said Gardner. "We have moved perilously close to the time when no American will be able to run for federal office unless he is wealthy or willing to put himself under obligation to sources of wealth...

Author: By Donald V. Barrett, | Title: Common Cause: Regaining Access to Power | 5/26/1971 | See Source »

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