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Carter originally proposed shuttling 200 giant MX missiles among 4600 shelters burrowed into the deserts of Utah and Nevada. The rationale for this nuclear shell game went something like this: The Russians now have enough warheads to destroy our 1000 land-based Minuteman missiles in a nuclear first strike. With the MX system, the Russians would have to hit 4600 targets to ensure the destruction of all the mobile missiles. Thus, our land-based nuclear deterrant would remain intact, and everyone could rest easier...

Author: NO WRITER ATTRIBUTED | Title: Forget The MX | 9/22/1981 | See Source »

...reserves in non-OPEC member nations, and thus get less for their petroleum and refined products when cartel prices drop on the world market. As a result, energy stocks themselves dropped. The price of a share of Getty Oil Co. slumped 6.2%, to 68¼ on Monday alone. Shell dropped 4⅜ to an end-of-week low of 41⅛. Phillips Petroleum dropped...

Author: /time Magazine | Title: Those Wall Street Blues | 9/7/1981 | See Source »

Though the program's various tax and subsidy provisions were intended to encourage giant foreign multinationals like Shell, Exxon and Mobil to sell at least some of their Canadian operations to local companies, the effect has been to aggravate a host of economic difficulties. Inflation has surged to an annual rate of 13%, the Canadian dollar has slumped to 800 in American currency, its lowest point in 50 years, and investment capital has been fleeing Canada...

Author: /time Magazine | Title: Canada's Barrel of Troubles | 8/24/1981 | See Source »

...despair. Ned Racine (William Hurt) drags voraciously on a nonstop series of cigarettes. He wears a Clark Gable mustache and a Zachary Scott hat. And one night, as a Dorsey-style orchestra plays That Old Feeling, a sleek, tanned woman in white emerges from the darkness of the band shell and into the rest of Ned's life...

Author: /time Magazine | Title: Cinema: Torrid Movie, Hot New Star | 8/24/1981 | See Source »

Just hearing things, of course-like listening for waves in a sea shell. It did not occur to the air-traffic controllers to deliver that sort of archaic soliloquy, haunted by scruples. Most of them judged, briskly enough, that their desire for a 32-hour week and a minimum of $30,462 per year superseded the oath to which they once put their signatures...

Author: /time Magazine | Title: Essay: What Does an Oath Mean? | 8/24/1981 | See Source »

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