Word: upturn
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Dates: during 1970-1979
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...most demographers contend that even if such an increase occurred, it would be temporary. "Any upturn in the birth rate would be just another fluctuation around the major continuing downward trend," says Philip Hauser, director of the Population Research Center at the University of Chicago. "It would fend off zero population growth a little longer, not forever...
...battered by soaring inflation and a declining economy, the nation's housing industry recently has been jolted by another blow: skyscraping interest rates that are drying up mortgage money and threaten to depress construction even further. A continuing slide in housing would seriously diminish chances for an economic upturn later this year, and last week the Administration attempted a rescue. President Nixon announced a series of steps that would pump $10.3 billion in cash and credits into the sagging industry...
...savings banks withdraw their funds and put them into better-paying investments such as Treasury bills. According to experts in the Federal Home Loan Bank Board system, which supervises S and Ls, the process has already begun. Result: the housing industry, which was beginning to show signs of an upturn-1.8 million starts in February v. 1.4 million in December-could well be hammered down again...
...report: Nixon was "on top of his job." He had the facts, and "he is a very clear-thinking realist." But even her enthusiastic portrayal of the President blurred into generalities. "He thinks we will be out from under the energy crisis, the economy will be on the upturn...
What is new is a tone of deeper worry than the economists were expressing at the end of 1973. Several concede that the economy could go down longer and deeper than they expect. While predicting a strong upturn at the end of the year, Eckstein volunteers that it may not happen. "It is possible that the economy will just keep on fading," he says. "Then we will be sitting here with the worst recession since 1958 and one that would be more worrisome because it would have gone on longer." Alan Greenspan, a Nixon adviser who does...