Word: weakening
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Dates: during 1970-1979
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While reflecting a deeply felt concern, Townsend's very public dissent from what is, after all, an essentially voluntary anti-inflation program could only help weaken confidence in it among both businessmen and consumers. And that could only complicate the Administration's difficulties in successfully treading the fine line between inflation and recession...
...Communist world. The root problem is the enormous cost of imported oil, now more than $11 per bbl.,* a fourfold inflation in only one year. The increase has enabled the oil exporting countries to earn an almost inconceivable amount of foreign currency: about $100 billion this year. Unless prices weaken, next year's total will swell to $108 billion. By the end of this decade, the 13 nations of the Organization of Petroleum Exporting Countries (OPEC) could have a surplus of gold, dollars, pounds, marks, francs and other foreign currencies amounting to $650 billion; by contrast, the U.S.'s reserves...
...down oil prices. If the citizens of the oil-importing countries can be persuaded to adopt conservation measures, and if a formula for limiting exports is accepted, then?the Americans optimistically reason?the oil exporters would start to quarrel over how to share the shrinking market. This could eventually weaken and perhaps break up the oil cartel, permitting prices to respond to the demands of an uncontrolled marketplace...
...same end will be reached, the unions know, if a Conservative government is elected. Then the scenario will go as follows. Conservative wage controls will be resisted by crippling strikes that will further weaken British industry. A Conservative government will find it much easier than a Labour one, of course, to obtain mountains of foreign credits, but the indulgence of foreign bankers will run out eventually. In order to reduce costs some companies will attempt to lay off workers; meanwhile, other firms will go bust under the impact of tactical strikes and the slump. Nationalization of both kinds of companies...
...furor which had resulted from previous unofficial disclosures--may well, ironically enough, have had a positive effect on American foreign policy. Ford's blundering explanation of American activities in Chile was a remarkable example of political naivete. When asked whether intervention in another nation's internal affairs designed to weaken the foreign government could be justified under international law, and whether the Soviet Union could feel free to do the same thing in Canada or in the United States, Ford answered very straightforwardly. Failing to appreciate the sarcastic tone of the question, he responded: "I'm not going to pass...