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Word: nationalize (lookup in dictionary) (lookup stats)
Dates: during 1980-1980
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...important reason will be the renewed upward thrust of oil prices. The 13-nation OPEC oil cartel last week raised its export prices by 6% to 10%, and oil producers warned of possible additional increases in 1981 (see following story). Meanwhile in the U.S., more and more domestically drilled crude is being marketed at sky-high world prices as a result of the continuing phaseout of domestic crude oil price controls. Democrat Otto Eckstein, president of Data Resources, an economic forecasting firm, estimated that rising petroleum prices will add 2.2 percentage points to the nation's consumer price index...

Author: /time Magazine | Title: Business: Outlook '81: Recession | 12/29/1980 | See Source »

Whatever happens to the economy in 1981 will depend to a large degree on the actions of the Federal Reserve Bank and its controversial chairman, Paul Volcker. As the nation's central bank, the Federal Reserve regulates the availability of both money and credit in the economy, which helps determine the level of interest rates for borrowers and lenders alike. In October 1979, the Fed announced that it was scrapping its traditional inflation-fighting tactic of trying to regulate overall economic activity by manipulating interest rates within a narrow and relatively low range. The bank decided instead to attack...

Author: /time Magazine | Title: Business: Outlook '81: Recession | 12/29/1980 | See Source »

While the economic year ahead looks generally gloomy, the year now closing has been downright schizophrenic. From January through December, the nation's business indicators gyrated as though they were suffering from a case of St. Vitus's dance. Gold and stock markets soared and tumbled with regularity. Interest rates bounced wildly up and down...

Author: /time Magazine | Title: Business: Outlook '81: Recession | 12/29/1980 | See Source »

...ministers of the 13-nation Organization of Petroleum Exporting Countries gathered under unusual circumstances last week amid lush tropical greenery on the resort island of Bahi, Indonesia. For the first time in the group's history, two of its members were at war, and the battlefield confrontation threatened to spread into the conference room, thus weakening the cartel's fearsome control over oil prices. But after a two-day meeting, the OPEC nations agreed unanimously not to let the war between Iran and Iraq get in the way of boosting the price...

Author: /time Magazine | Title: Business: Bali High for Oil Prices | 12/29/1980 | See Source »

Even if the plan is accepted by all the parties involved, the ultimate survival of Chrysler will depend on selling the slow-moving K-cars in a recession-battered market. Without an upturn in car sales, no special deal will be able to keep the nation's 17th largest out of bankruptcy court...

Author: /time Magazine | Title: Business: Chrysler Goes Back to the Well | 12/29/1980 | See Source »

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