Word: weekes
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Dates: during 1970-1979
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Though Hollingsworth fumbled the ball away on the next series, the Crimson defense held Dartmouth and forced a punt, a play that became this week's oddity. Larry Margerum fumbled the snap on the kick and booted the ball off the stadium turf, watching his drop-kick roll dead at the Harvard one. But the Hanover celebration ended when the officials ruled the punt illegal and gave Harvard a first and ten at the Dartmouth...
...figure on this week's cover was little known a month ago, but, says Washington Economic Correspondent William Blaylock, "last week he seemed to eclipse every other newsmaker in the capital." Indeed, by announcing a tough new set of monetary measures, Federal Reserve Board Chairman Paul A. Volcker grabbed international attention and sent stock and money markets reeling around the globe. This week's cover story, written by Associate Editor Christopher Byron, examines both the hectic financial events of last week and the bold "Volckernomic" policies that triggered them...
...give up! Who's on the cover of this week's edition...
Even by the standards of the 1970s, the decade of recurring recession, relentless inflation and repeated runs on the no longer almighty dollar, it was a wild week. For some time, Americans had seemed able to ignore or nimbly thrust out of mind repeated symptoms of their out-of-joint economy, like alarming new price rises and further drubbings of the greenback abroad. But last week those distant, or perhaps too familiar, woes hit home, and hard, in a burst of financial hysteria that engulfed markets, speculators and ordinary investors big and small from Wall Street to Main Street...
...selling wave that caused pandemonium on Wall Street and twinges of fear throughout the country. In just five days, the market dive left investors with some $55 billion in paper losses and sent the Dow Jones industrial average plunging a total of 58.62 points to a week's close of 838.99. In terms of points, that was the Dow's second steepest one-week decline ever; during the week of Oct. 16, 1978, when prices were hammered by news of a sharply falling dollar abroad and worsening inflation at home, the Dow sank by a half point more...