Word: soarings
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...hurting? Evidently it is a minority of farmers who unwisely took on onerous debts in the mid-1970s to buy costly new acreage in the be lief that prices for farm land would continue to soar. The typical farmer, who has a modest 170 in debt for every dollar in assets, has no need to raise Cain in Washington...
...Trades Union Congress in an effort to arrive at a new social contract between the Labor government and organized labor. The stakes are high. Chancellor of the Exchequer Denis Healey warned last week that if the 15%-and-higher settlements sought by the unions are enacted, inflation will soar to double-digit rates. Moreover, unless taxes were raised to cover the higher wages, 100,000 local government workers, union members all, would have to be laid off. The Prime Minister could provoke a rebellion in his own Cabinet if he tries to balance the inflationary impact of high union settlements...
...retrenchment in higher education as the 1960s were a period of headlong expansion. Ten colleges shut their doors in 1978, bringing the total of closings for the decade to 129, more than double the number of new colleges that have opened. The campus kill ratio seems sure to soar in the years ahead. A Carnegie study predicts that as many as 300 institutions will vanish through the 1980s. Some educators expect an even greater number to lose their present identity through mergers and drastic cutbacks in the range of courses they offer, as well as outright bankruptcies...
...worse news, as President Bok was quick to point out, is that until inflation is controlled, costs will continue to soar...
Maverick Economist Alfred Kahn has a penchant for candor that is both refreshing and dangerous in Washington. When he said that there is the possibility of a "deep, deep depression" if inflation continues to soar, the President was furious. Kahn responded by purging the word depression from his vocabulary and instead using "banana." So he now says: "We're in danger of having the worst banana in 45 years...