Word: steel
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Dates: during 1960-1969
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...head off precipitate action by Africa's angry extremists. "We believe the policy we are following," Wilson said, "is right, appropriate, and will be effective." He could point to the fact that British sanctions have already cut Rhodesia's main exports 90% -including sugar, tobacco, copper, chrome, steel and meat. American importers are boycotting Rhodesian asbestos and lithium; Japan banned Rhodesian iron imports starting April 1. Even with strict gasoline rationing (one gallon a week for small cars, two gallons for large cars), the country has only an eight-to twelve-week supply left, and a few patriotic...
...Madrid's broad Paseo de la Castellana, the heavy steel ball of a demolition crane slams relentlessly into the 19th century palace of the Marques de Selgas, making room for a high-rise apartment building. On the outskirts of the city, Dodge Darts are rolling out of a vast factory complex that less than a year ago was an empty field. Europe's biggest supermarket opened two years ago on the exclusive Calle Velázquez. In a dim, dark-paneled bar on the Avenida de las Americas, boys in long hair and girls in white Vartan stockings...
...note that observance of the guidelines is voluntary, he also always acts as though anyone breaking through the guidelines is somehow defying the law of the land. Within the past year he has invoked the guidelines to enforce price rollbacks or holdbacks not only on steel, autos, aluminum, copper, and wheat and corn products-but also on such lesser items as mechanical pencils and catchers' mitts. During that same period, the President and his aides have employed the guideline concept to restrain wage increases for workers in the steel and maritime industries-as well as for federal employees. Thus...
...happened, Kennedy himself found the guidelines little more than a handy thing to mention in State of the Union speeches. The guidelines had hardly anything to do with his successful though costly battle to make U.S. Steel roll back an announced $6-per-ton across-the-board price hike in 1962. On that memorable occasion, Kennedy simply felt that he had been double-crossed by U.S. Steel Chairman Roger Blough, and he lost his Irish temper...
Second, it is far from clear that the settlement was "inflationary" in the national context (presumably the President would not bother about it in any other context). The subway system is certainly not a key industry in the sense that steel or aluminum is. And the underlying assumption of the wage-price guideline is that excessive wage or price increases in key industries have an inflationary impact on the American economy. How great, really, is the danger that an "excessive" transit settlement in New York will transmit inflation to the economy as a whole...