Word: iraqization
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Shrewd, poker-faced Arkady Sobolev of the Soviet Union blustered that the whole U.S. position was "insolvent" on the face of it. The troop landings, he pointed out, had come not as the result of anything that happened inside Lebanon, but were triggered by the coup in Iraq. The U.S. action, therefore, was a "gross intervention into the domestic affairs of the states in this area." Sobolev demanded the immediate withdrawal of the marines...
...Canada last week) who has an Egyptian bride and recently visited Egypt, but is determined not to let Nasser dominate Africa. India's Nehru, so slow to condemn Soviet intervention in Budapest, but now disturbed by Communist gains in India, mildly condemned the U.S. The fall of Iraq, diminishing the Baghdad Pact, hurts Pakistan, and therefore pleases India...
...overwhelming joy," described the landings as "the turning point towards stability." And in Turkey the relief at the U.S. action was so unrestrained that Turkey's Baghdad Pact partners, Iran and Pakistan, had to appeal for caution. Turkish Foreign Minister Fatin Rustu Zorlu wanted to march into Iraq, where some 100,000 Turks live...
...recession, U.S. business had finally hit bottom and started to climb once more. Leading indicators edged upward, farmers were entering a new period of prosperity, the all-important U.S. consumer was beginning to regain his appetite (see below). As business gathered new momentum, the events in Lebanon and Iraq would surely introduce a new influence. The expected effect: an additional nudge forward...
...imminent change in the business tides. Some steels, coppers and aircrafts rose to new highs for the year; Crucible Steel, one of the most active, rose 4¼ points to 24. The few groups that did not benefit from Wall Street's afterthoughts on Lebanon and Iraq were defensive issues such as tobaccos and foods, which have been recession favorites. As investors switched to "hardware" stocks, Lorillard dropped 3½ to 67¼; General Foods slid 1¼ to 62¾. "A whole new set of uncertainties now faces us," said John W. Finley, vice president of Blair...