Word: turns
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Dates: during 1970-1979
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...recession, September's unemployment level fell to 5.8% of the labor force, down from 6% in August; that decline suggests that businesses are not just continuing to keep factory lines humming, but are even expanding their production in the belief that someone will buy almost anything they can turn...
...best way to fight a recession," says this international money expert. "Certainly, initially, if we are to brake inflation, there will be some difficult periods to go through. The sooner, the faster we do it, the less gradual approach we adopt, the better chance we have to succeed, to turn the corner. I am very encouraged that part of Volcker's approach is an attempt to deal also with the problems posed by the Eurocurrency market. He emphasized more than before the rate of money supply growth on this market, rather than interest rates. That is the right emphasis...
...long time." But late as the switch is, Eckstein believes, "it's going to work. The chances are the inflation rate, currently 13.1%, will drop below 9% by February." But Eckstein sees a darker side: "There is no question that the economy is now going to turn down quite sharply. We are forecasting that unemployment, now 5.8%, will hit 8% by the second half of next year." Still, Eckstein thinks that the recession will be a bit less bitter than in 1973-75. "The use of credit by business has been considerably more cautious, inventories are not anywhere near...
...approved, that strategy will be jeopardized. All of the European NATO nations have large left-leaning political parties that are concerned about the effect an arms buildup might have on detente. They will accept the new missiles only if they are accompanied by SALT II, which in turn will lead to SALT III negotiations and possibly a genuine reduction of nuclear armaments...
Money alone will not turn the Caribbean into paradise. After all, Puerto Rico gets more than $1 billion in federal aid, but unemployment hovers at 18% and the living standard is well below that of the mainland U.S. Still, there is a growing recognition by the Administration that "poverty is the real menace" -to cite the words of Francisco Peńa Gómez, secretary-general of the Dominican Republic's ruling party. As one policymaker puts it, "There's a feeling that the U.S. should get more involved with a country like Nicaragua or a Caribbean...