Word: weather
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Dates: during 1970-1979
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Miller's mistake had been to assume that the Fed's orchestration of the highest interest rates in five years would alone be sufficient to discourage borrowing and spending. Through the first half of 1979, business was actually slowing somewhat as a result of bad winter weather and the gasoline squeeze, which together put a crimp in consumer purchasing. The Fed even began to fear that its seemingly draconian interest rates were pushing the economy headlong into recession...
...negotiators would even show up a few days ago to review purchases. They did, and signaled that they would buy 25 million metric tons of grain, a new high. Burly, dark-haired Boris Gordeev, Deputy Minister of Foreign Trade, leaned across a table and told about the hot dry weather that had pinched Soviet production (by as much as 20%, American experts estimate). That may be the only confession of weakness we will get from the Soviets in the next years-but it could be everything...
From the Appalachians to the Rockies, the combines are churning through our land. Some of these $100,000 monsters can spew out $118,000 worth of soybeans in a day. The U.S. crops-the result of near perfect weather, rich land, technology and extraordinary enterprise-will be worth $61 billion this year (up 17% over last year's record of $52 billion...
Even with the brilliant blue sky yesterday in Cambridge, the weather somehow seemed better at Franklin Park, where the women's cross country team (4-2) devasted all opposition at the Greater Boston Championships (GBCs...
...Polish Pope, says Leifer, "has visual charisma and all the right moves. He kisses the ground as soon as he lands. There's the first picture!" But like his note-taking colleagues on the assignment, Leifer was often thwarted by overprotective police, impenetrable crowds and uncooperative weather. Finally the sun broke through as His Holiness climbed the flower-strewn altar at Living History Farms, Iowa, and from a crowded position farther away than he would have liked, Leifer captured the majestic image on this week's cover...