Word: global
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Dates: during 1970-1979
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...entire non-Communist world go through a repetition of the oil-fired recession of 1974-75? The answer will not be clear even when the final gavel ends the OPEC meeting in Geneva and the economic summit in Tokyo. But the prospects are cheerless: at best, a slowdown in global growth, accompanied by more inflation; at worst, an outright recession?also accompanied by more inflation. Already, the downturn-that-might-be has picked up a name. Washington economists are calling it Khomeini's Recession?after the Ayatullah Ruhollah Khomeini, whose Iranian revolution began the oil shortages and rocketing prices that...
Next morning the two men got down to business in the baroque U.S. Embassy. Each gave a formal 35-min. presentation of his country's global views. After breaking for lunch, and a recuperative nap for the ailing Soviet leader, the two men met again at the U.S. Embassy for almost two hours of discussion on the subject that had brought them together in the first place, the SALT II treaty to restrict long-range weapons. The Americans were struck by Brezhnev's stamina during the talks. Said one top U.S. official: "He really seemed to be thoroughly in control...
...fixing cartel will lift the cost of its crude, and the question is how much more of such treatment the world economy can endure. Since last December, official, cartel-wide increases have pushed up the basic cost of mankind's most important energy resource by 14.5%, gravely inflaming global inflation. Worse, surging demand has enabled the OPEC nations to tack on one premium and surcharge after another, raising the actual price for most grades by as much as 30%, to $17 or more per bbl. Next week such cartel militants as Iran, Algeria and Libya will press...
...price rise will be too much. The world is still struggling to recover from the cartel's first blast of increases in 1973 and 1974, and the almost weekly current jumps have kept economists busy scaling back their global growth forecasts for 1979 and the 1980s...
...really supposed to be for. Is the wondrous box meant to entertain? To elevate? To instruct? To anesthetize? The medium, in its sheer unknowable possibilities, seems to arouse extreme reactions: contempt for its banal condition as the ghetto of the sitcom, or else grandiose metaphysical ambitions for a global village. The tube is Caliban and Prospero, cretin and magician. "What makes television so frightening," writes Critic Jeff Greenfield, "is that it performs all the functions that used to be scattered among different sources of information and entertainment." Television could, if we let it, electronically consolidate all of our culture -theater...