Word: hellers
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Slump. "The recession is on," says Walter Heller, a member of TIME's Board of Economists. The Government has made no official announcement of this (a recession is customarily defined as two quarters of declining production), but it unofficially estimated last week that national output of goods and services dropped at an annual rate of 2.4% from April through June. OPEC's oil boosts make this downturn immeasurably harder to reverse; they will drain perhaps $30 billion out of Americans' pockets by the end of 1980. Unemployment has been holding steady at just under 6% so far this year...
...eased, and the five-month-average base was introduced in an effort to deal with seasonal population shifts-but the problems have not been solved. Criticisms are now mounting; last week the state of Maryland filed a lawsuit against DOE, challenging the allocation system as unfair. Says Economist Walter Heller: "I've heard it said that if God wanted us to have gasoline, he would never have created the Department of Energy...
...Good as Gold, Heller...
...Good as Gold, Heller...
...Good as Gold, Heller...