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...Prime Minister, there was more at stake than the selection of local legislators. Two of the three states (Andhra Pradesh and Karnataka) have been Gandhi political fiefs for decades, and her party was a clear favorite. Thus last week's defeat will surely weaken Mrs. Gandhi's authority over Congress (I). More important, it could spur internal Indian strife, lending strength to the nation's growing number of ethnic and political separatist movements...

Author: /time Magazine | Title: India: Local Theater | 1/17/1983 | See Source »

...hardly had 1982's bond market bulls had a chance to tot up their winnings when much of the euphoria that accompanied the rise in bond prices began to fade. Prices have begun to weaken ever so slightly, and interest rates have started to nudge upward. Reason: fear is spreading that inflation, a mortal menace for all fixed-income investments, could resume with a vengeance if the economy comes out of its doldrums. Says Raymond Dalio president of Bridgewater Associates Inc., a Connecticut-based economic and investment consulting firm that was strongly bullish on bonds last winter and spring...

Author: /time Magazine | Title: Pause in the Bond Boom | 1/3/1983 | See Source »

...serving bills of the kind that special interests try to sneak through at the end of a hectic session. As Rhode Island Republican John Chafee graphically described the process: "You can almost hear the hogs moving up to the trough-slurp, slurp, slurp." Among them were bills that would weaken regulation of beer distributors, doctors and lawyers, and the National Football League. None passed...

Author: /time Magazine | Title: Lame Ducks Lay an Egg | 12/27/1982 | See Source »

...were a number of oil-exporting nations: Mexico and Nigeria, to name two. Two years ago, the 13-nation OPEC oil cartel gloatingly held the world at ransom for crude oil at prices that eventually exceeded $40 per bbl. But the combination of recession and conservation caused prices to weaken, and by year's end the price of crude had dropped to $30 per bbl. and appeared to be headed even lower. Unbelievable as it would have seemed to most Americans two years earlier, OPEC's survival as a cartel now appears in doubt...

Author: /time Magazine | Title: Booms, Busts and Birth of a Rust Bowl | 12/27/1982 | See Source »

...million in military assistance. "We are now at a touchy time," said State Department Spokesman Alan Romberg. "The danger of this bill is that it would make it far more difficult to bring about a quick and easy settlement in Lebanon." In the longer run, it would also weaken the U.S.'s " credibility in this region, and therefore any attempt to neutralize the P.L.O. hard-liners by encouraging negotiations leading to a settlement that moderate Palestinians can accept. -By William E. Smith. Reported by Johanna McGeary/ Washington and Roberto Suro/ Beirut

Author: /time Magazine | Title: Middle East: Facing Drastic Choices | 12/13/1982 | See Source »

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