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Instead of a blanket inclusion in the program of all suppliers, the Carter Administration wants a more modest, and less costly, reform. This would extend coverage only to suppliers of actual, essential components. What is more, such companies would have to show that at least 50% of their output had been going to the firm being directly hit by the import competition...
Britain's economic statistics are grim. Unemployment is above 2 million, roughly 8.4% of the work force, and rising sharply. More than 7,000 firms are expected to go under this year. Inflation, while slowing down from a 1980 high of 21% in July, stands at 16.3%. Manufacturing output is down, interest rates are at 16%, and the money supply, crucial to the monetarist creed, has exceeded targeted limits by more than a third. "The government's entire economic strategy faces a crisis of credibility," charged the London Times. "The private sector, which she pledged to revitalize...
...month-long roller-coaster ride. At first, the cost of money soared; the prime rate for leading corporations rose from 15¼% to 20% by last April. The money supply then dropped precipitously, actually declining at an annual rate of 2.4% during the spring. At the same time, economic output dropped at a 9.6% annual rate, its steepest quarterly slump on record. Then in the summer, the Fed reversed course and began frantically pumping up the money stock. In the past three months, money growth has exploded at a 16.8% annual pace, and interest rates tumbled...
...Angeles, a privately owned manufacturer of hydraulic platforms, which sell for between $11,000 and $20,500 and are used as mobile scaffolds in the construction industry. The firm opened in 1973, but it did not export at all until 18 months ago. Now 50% of Keedon's output is sold abroad, and the company has distributors in 33 nations. Company Vice President Bob Ryland gained a foothold in the Australian market by the disarmingly straightforward method of writing letters to 50 building-supply firms listed in the Sydney Yellow Pages. He received replies from 40 of them. Says...
...once stopped by the police in Los Angeles for the highly suspect act of walking at night through his residential neighborhood. He was also detained by the Irish Garda Siochdna (Civil Guard) for being "drunk, and in charge of a bicycle." Ray Bradbury would seem, from his prodigious output, to be the most sedentary of men. He is, in fact, one of the most peripatetic. By bus, boat, train and car, he has thoroughly explored the U.S., Mexico, Ireland and Europe. By means of his imagination, he has penetrated the farthest reaches of the solar system and the deepest, darkest...