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...inflation (TIME, June 6). His view was disputed last week by Budget Director Bert Lance, who complained that the Fed's stinginess has prompted major banks to raise lending rates for their best customers to 6.75%, up from 6.25%. Lance believes that the increases could worsen inflation and weaken the recovery by pricing loans out of many businessmen's reach...

Author: /time Magazine | Title: THE PEOPLE: A Strange Mix of Confidence and Doubt | 6/13/1977 | See Source »

...commitment to our defense treaty." For these reasons, Carter insisted, "there need not be any doubt about potential adversaries concerning our support of South Korea." Emphasized U.S. Ambassador to South Korea Richard Sneider in an interview with TIME: "We will not do anything to disturb the [military] balance or weaken the security of [South Korea]. This is a very solemn commitment...

Author: /time Magazine | Title: KOREA: G.I.s at the DMZ: Time to Come Home? | 6/6/1977 | See Source »

...America, war no longer served to create unity but to sever it. It was the home-grown calamity of a blackout that welded a populace; the oil embargo served not to weaken national resolve, but to bolster it -although that resolve ebbed when the gas pumps flowed. In these cases, moral equivalency worked because the crises were perceived as serious but not desperate (the embargo) or desperate but not serious (the blackout). Americans could wryly agree with Historian D.W. Brogan's citation of the contrast between democratic government and the nondemocratic, which "is like a splendid ship, with...

Author: /time Magazine | Title: Time Essay: Moral Equivalents and Other Bugle Calls | 5/2/1977 | See Source »

...that owes its existence to Cuba and the Soviet Union. In Moscow, Tass declared that "external forces" were interfering in "the internal struggle in Zaire." Even as the Western powers were afraid that the fighting would topple Mobutu, the Soviets were apparently worried that a strong Zaire counterattack might weaken the shaky government of President Agostin-ho Neto in Angola, which still faces resistance from the UNITA forces of Jonas Savimbi (TIME, Jan. 17). For that matter, Mobutu was also eager to describe the war in East-West terms. After neighboring Zambia complained that a mission hospital near the border...

Author: /time Magazine | Title: ZAIRE: A Little Help from His Friends | 4/25/1977 | See Source »

Those who want to retain the Electoral College fear that direct elections could weaken the two-party system by encouraging minor party candidates and independents. Opponents also argue that big cities-and their minority groups-would lose some of their present political power. The cities now often decide how large states cast their electoral votes. In a direct vote, the cities would still have clout, but their relative power would decline. Then, too, small states and the less populated regions of the country would no longer be guaranteed a role-however minor-in determining who would live in the White...

Author: /time Magazine | Title: The Nation: A Vote to Close Down the College | 4/4/1977 | See Source »

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