Word: upturns
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Dates: during 1980-1989
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There are indeed some indications that the economy may be breaking out of the inflation-recession cycle. But the upturn so long awaited has not yet arrived and before it can strengthen into a sustained advance, many hard decisions, especially concerning the budget, must be made. These may involve more pain, but the alternative is a return to the failed and unacceptable economic poli cies of the past...
With rare unanimity, however, economists warn that the upturn, whenever it comes, will be painfully slow and gradual. Robert Ortner, chief economist of the U.S. Department of Commerce, ; observes that after past recessions the total output of goods and services on average has jumped 7% in the first year of recovery. "This time it will be less than that," he says. That is putting the case very mildly; many private economists guess that the upswing will be only half as vigorous as it traditionally is. Walter Heller, a member of TIME'S Board of Economists, has compiled a self...
...flawless-grade stone that brought $62,000 at the peak of the market in 1980 is now worth only $15,000 or less, a decline of more than 75%. De Beers' sales arm, the Central Selling Organization, saw profits tumble 46% in 1981, and Oppenheimer says that an upturn is not yet in sight...
...city is bursting at the seams," says Barbara Sullivan of the Cambridge Chamber of Commerce. "You can only hold back development for so long," she adds John Conally, executive director of the Private Industry Council, which works with CETA officials to locate private sector jobs, says. "I believe the upturn will happen shortly. If the government program [to improve the economy] doesn't do it, business will take the bull by the horns...
Pending the Administration's predicted upturn of the economy, about all that U.S. farmers can do is pray for plagues and bad weather overseas. Midwest cattle producers have no grudge against their counterparts in Denmark, but a recent outbreak of hoof-and-mouth disease there caused Japan to suspend $215 million worth of Danish meat imports. This could mean some $100 million in unexpected sales for American cattlemen. Says Ronald Knutson, an economist at Texas A&M: "If there is a major crop failure some place in the world, we'll look back on this as a good...