Word: generality
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Dates: during 1970-1970
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Even within the C.E.D., these tough and sweeping proposals are controversial. Several executives, notably Vice Chairmen Richard Gerstenberg of General Motors and Herman Weiss of General Electric, dissented from the incomes-policy recommendation, largely on the ground that it would be unworkable. Nevertheless, the majority argued that, at worst, the plan would do little harm; at best, it might reduce by half a percentage point the rate of unemployment that the nation must suffer as the cost of curbing inflation. Hypothetically, a 5.5% jobless rate would do as much to slow price increases as a 6% rate under present policy...
...items carry higher price tags than last year. Consumers are saving an abnormally high 7.6% of their incomes; ultimately they will begin to spend considerably more, but Katona reckons that they will hold back until they feel much more secure about the nation's economy and society in general...
...billion increase in bank lending during the summer and fall, bank loans have actually declined by $3.5 billion since June. "Business-loan demand has caved in," says Arthur Okun, former chairman of the President's Council of Economic Advisers. "The economy is going nowhere, partly because of the General Motors strike. Corporations are paying off their short-term debt...
...huge bundle of recently written mortgages-many of them paying 8½%- that run for 30 years. "Fannie Mae is developing an increasingly buxom profile," says President Allan Oakley Hunter, who took charge last year after a career as an FBI agent, U.S. Congressman from California and general counsel to the Housing and Home Finance Agency. "As we roll over our debt while interest rates come down, we're going to be in an increasingly stable and profitable position...
...renamed Manchukuo. In fact, the U.S. meant to exclude Manchukuo. Had that point been clear, Toland asserts, war would have been postponed-or avoided entirely. It was only in 1967, he says, that the surviving Japanese leaders learned what the Americans intended. "If we had only known!" said General Kenryo Sato, a Tojo adviser. "If you had said you recognized Manchukuo, we'd have accepted...