Word: tradings
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Dates: during 1980-1989
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...mass circulation women's magazines that has survived the women's movement and settled comfortably in this post-feminist age. The magazines which speak to notion that women work but secretly worry more about sex, having babies and getting married than about the presidential election and the trade deficit. The magazines that feature articles on "10 Ways to Get and Keep a Man" or "My Garden, My Hobby." One would assume that harmless articles like that would appear in the magazine that carried such an ad as "Reflections on Lindsay...
...Cassandras have been updating their scenarios throughout the 1980s: the overvalued dollar will destroy American industry; or, the undervalued dollar will hand American industry to foreigners; or, when the foreigners get tired of spotting us, interest rates will shoot up, and we'll have a recession; or, as the trade deficit narrows, domestic and export demand will combine to create inflation; or, the burning of Brazilian rain forests will deprive the world of oxygen, and we'll all choke to death; etc. But the sky hasn't fallen. And trying to persuade people it's going to fall any minute...
...budget deficit and the trade deficit are really aspects of the problem of too much consumption and not enough saving. As Harvard professor Benjamin Friedman points out in his forthcoming book Day of Reckoning, the share of national income raised in federal taxes is exactly what it was in 1979, but the share returning to individuals in the form of transfer payments (Social Security and so on) has gone up. The Government borrows the difference, thus replacing national savings with consumption. The 1980s' consumption boom, Friedman notes, has been financed in three ways: by this shift in the Government budget...
...reduction, do we need new policies to encourage savings and investment in the private sector? (Answer: perhaps, but be suspicious of both conservative schemes that amount to new tax breaks for rich folks and liberal schemes that amount to Government officials trying to play business better than businessmen.) Are trade restrictions a sensible way to reduce consumption of imported goods? (Answer...
This turns the campaign into a farce. The candidates, bowled over by the weight of their own differences, trade barbs like children. The public, having already passed judgement on the issues, sucks up rumors of flag-burning and psychological trouble, and eagerly awaits the next low-hitting punch from one candidate to the other...