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...Soviet purchases will boost 1972-1975 grain exports by 17% above their average for the past three years ($1.5 billion), which should bring many an expectant smile to grain-belt farmers. Moreover, since the U.S. did not agree to buy anything from the Russians in return, the deal will wipe off $250 million of the nation's horrendous balance-of-payments deficits during each of the next three years. Commerce Secretary Peter G. Peterson will try to build on the momentum later this month, when he is scheduled to visit Moscow to discuss other trade matters. He will likely...

Author: /time Magazine | Title: EAST-WEST TRADE: The Arrival of a New Era | 7/17/1972 | See Source »

...sides already have the capability to carve out several large lakes. The massive commitment to offensive weapons is such that for the present each side must continually upgrade its deterrents lest the other gain a first-strike capability-the ability to strike so quickly and so powerfully as to wipe out any chance of a retaliatory attack...

Author: /time Magazine | Title: DEFENSE: Second Thoughts on SALT I | 7/10/1972 | See Source »

Even an all-out military drive would not enable Thieu to wipe out the North Vietnamese gains. Despite their failure to capture Hué, Kontum and An Loc, the Communists have achieved many objectives of their Easter offensive. Besides inflicting heavy casualties on several ARVN divisions, they have very nearly undermined the all-important Vietnamization program and paralyzed pacification efforts in much of the countryside. They have once again staked out large swatches of territory in South Viet Nam's historically vulnerable regions. Though the Communists control only a small percentage of the South's population, the offensive...

Author: /time Magazine | Title: THE WAR: Elusive Victories | 7/3/1972 | See Source »

...golfer must play his ball where it lies or take a penalty of added strokes if he chooses to move it. Among weekend golfers, the temptation is often strong to improve a lie surreptitiously, especially on the greens, where a player is permitted to lift the ball and wipe it off. But in the competitive sphere of professional golf, where scrutiny is high and tolerance understandably low, such cheating is rare. Which is why the U.S. golfing world last week was closely following the case of pretty Jane Blalock...

Author: /time Magazine | Title: Sport: Play It as It Lies | 6/26/1972 | See Source »

...state be lowered, but it did nothing to make up for the loss in local revenues. As a result, Detroit schools began running a deficit in 1966. The city's voters grudgingly agreed to raise school taxes by $25 million in 1969, but that was not enough to wipe out the red ink entirely, even though the city's property taxes rose higher than those of most of its suburbs. School officials asked for another tax increase last May 16, but Detroiters voted solidly against it. They are likely to do so again when the proposed tax boost...

Author: /time Magazine | Title: Education: Struggle to Survive | 6/19/1972 | See Source »

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