Word: socialism
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Dates: during 1980-1989
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...REED: NEW YORK (Sire). Savage lyricism in the sharpest Reed style, with a startling overlay of tough social commentary...
...youngsters of successful role models but also knocked the props from under churches, schools and other neighborhood institutions that provided stability and support for the impoverished. Middle-class flight, together with economic shifts that have resulted in a dearth of low-skill factory jobs, dooms the inner city to social isolation and despair...
...satisfied with all his claimed wealth, he continued to indulge his compulsion for risk taking, and it backfired badly. Koskotas obtained fake Social Security numbers for several of his painters who were illegal aliens -- federal prosecutors charge that he created fictitious names -- and then used them in efforts to collect unemployment insurance claims and income tax refunds. In 1979, before Koskotas was indicted by the U.S. Attorney, he returned to Greece with his wife and four children. A year later, in 1980, the U.S. formally charged him with stealing $40,000. In the years that followed, Koskotas traveled back...
...inauguration, President Carlos Andres Perez warned Venezuelans that hard times were ahead for their heavily indebted, oil-exporting country. Even he had no idea how hard -- or how soon. Last week the citizens of one of Latin America's most stable democracies were in shock after a social explosion that tore apart downtown Caracas, the capital, and shattered the peace in at least 16 other cities. Government-imposed austerity measures had ignited a three-day free-for-all of rioting, looting and killing that left an estimated 300 people dead, 2,000 injured and another 2,000 in jail...
Perez, who has long inveighed against his continent's onerous financial burden, had finally found austerity unavoidable. Venezuela owes foreign creditors, largely U.S. commercial banks, about $33 billion. In the 1970s, when the country was awash with petroleum revenues, the government that Perez headed spent lavishly on social-welfare projects and industrial schemes. But as oil prices took a dive in the 1980s, so did the economy, which earned 90% of export revenues from petroleum. Hard-pressed for cash, Venezuela last Dec. 31 suspended payments for 90 days on the bulk of its foreign obligations...