Word: fourth
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Dates: during 1990-1990
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...normally bullish U.S. Chamber of Commerce added its voice to the growing chorus of recession forecasters last week. Said Richard Rahn, the group's chief economist: "We anticipate that the economy will grind to a virtual standstill during the third quarter and actually contract by 1.4% in the fourth quarter." While Rahn acknowledged that "Iraqi adventurism in the Middle East is exacerbating this country's economic woes," he attributed the grim outlook to the tight-money policies of the Federal Reserve Board, which has kept interest rates high out of fear that inflation could shoot up from its current level...
...siphon income from consumers and companies. Laurence Meyer, a Washington University economist who runs his own forecasting firm in St. Louis, had predicted a recession even before the oil shock. If prices charged by the Organization of Petroleum Exporting Countries reach $30 per bbl. in the fourth quarter, Meyer says, the GNP would decline a painful 3.6% during the period. If oil levels off at $32 per bbl. next year, he predicts that unemployment would climb to 7.4% by the end of 1991 and add some 2 million people to the jobless rolls...
Swaminathan Asokan dreams of water. It gushes out of a giant tap and fills bucket after bucket. But then he wakes up -- to a nightmare. For at Asokan's house in Madras, India's fourth largest city, there is no water. The tap has long been dry. So he must get up in the dark of night and, laden with plastic pails, take a five-minute walk down the street to a public tap. Since the water flows only between 4 a.m. and 6 a.m., Asokan, 34, a white-collar worker at a finance company, tries to be there...
Prince Turki, who is fourth in line to the Saudi throne, was honored at a private dinner at Harvard Medical School on July 31. He was invited to meet with President Derek C. Bok, but postponed the appointment indefinitely at the outbreak of the Middle East crisis...
...gamble paid off. Rollerblade now does almost one-fourth of its business in California. In New York, where the company sponsors races, the market is smaller but growing fast. And the trend has come full circle, returning to the heartland. "The whole lakefront in Chicago is covered with Rollerbladers," says Rosa Hallowell, 26, a law student at the University of Chicago. "Every weekend it's a battle between the cyclists and the bladers...