Word: persian
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Dates: during 1990-1990
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...goes well, which is no sure thing. The economists in the TIME forum warned that the U.S. faces a minefield of unprecedented risks that could worsen the recession and prolong it through next year and beyond. Chief among them is the threat of a drawn-out war in the Persian Gulf. That could push the price of oil, which closed at $25.92 per bbl. last week, well past the $41.40-per-bbl. peak that it hit in October. Another serious threat is the possibility of a crisis in the U.S. banking system, which is awash in bad loans and increasingly...
...median forecasts of five economists suggest that the economy will rebound by mid-1991, assuming that the U.S. avoids a protracted war in the Persian Gulf...
Least Popular Industry, Lifetime Achievement Category Big Oil struck a gusher of bad publicity again. Little more than a year after the Exxon Valdez disaster, the industry got blamed by just about everybody for rising gas and fuel prices in the wake of the Persian Gulf crisis. Oilmen denied any profiteering, but several firms posted huge increases in earnings...
...single day to America," he says. "You've got to remember that in the end of the '30s there was kind of an isolationist fervor in some quarters. People saying, 'Hey, that's not any of our business.' There's a parallel there for what some feel about the Persian Gulf today: let somebody else figure this out. And it's my view that nobody can, except the United States...
...TIME panel of five leading economists foresees only a moderate U.S. downturn. But the experts warn that a bank crisis or a protracted Persian Gulf war would bring a deeper slump...