Word: foods
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Dates: during 1970-1979
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Carter did not disclose just what sanctions the U.S. would request. But aides said they will probably include a partial trade embargo, exempting Iranian imports of food and Pharmaceuticals and exports of oil. Carter had no advance word from Moscow, aides said, whether the Soviets would go along with sanctions or block them with a veto...
Consumers will lead the way down. They are running out of cash, credit and savings; also, they will have to pay much more for oil-related goods and services as varied as food and rents (tractors and furnaces burn fuel). So consumers will be obliged to buy less of almost everything else, notably cars, appliances and other durable goods. Squeezed by tight money, the construction rate of new homes and apartments could go as low as 1.2 million by March. As demand wanes, businessmen will further reduce production and inventories. But by late fall or early winter, their shelves...
...cutting big and small federal programs extremely sharply to hold down the budget deficit and take some heat away from rising prices. Still, Carter's aides are probably underestimating the size of the deficit. A recession would pull down tax receipts and increase federal spending on unemployment compensation, food stamps and other social programs. While the White House officially maintains that the 1980 deficit will be about $30 billion, some of TIME'S economists expect it to approach $50 billion. The problem will continue into fiscal 1981, which begins next October. Says Joseph Pechman of the Brookings Institution...
...beneficent climate and low wage rates continued to attract business. The Southwest surged because its oil and natural gas were in heavy demand. Farmers in the Midwest grain belt and the far West prospered, largely because a hungry world increased its call for what America produces best: food. Average farm incomes increased 117% from 1970 to $23,263 per family in 1978 and are higher now. The region that fared best of all was the intermountain West because it is a trove of oil, gas, coal, shale and almost all the increasingly precious energy resources. Construction cranes climbed like church...
...operation in Mecca had been intricately planned. For weeks before, the guerrillas had been squirreling away small weapons and food supplies inside the mosque. After the attack began, they concealed their dead and wounded in order to make the government think that the rebel casualties were light. When the two-week siege was finally over, the Saudi national guardsmen discovered the bodies of 300 guerrillas. Most of their faces had been deliberately burned by their surviving comrades to conceal the victims' identities. Some 160 of the intruders were captured, and will be tried on charges of defacing a holy...