Word: year
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Dates: during 1970-1979
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Climaxing a decade of disillusionment, the year 1979 tested Americans' capacity to absorb economic shock. Consumer prices doubled during the sputtering '70s, but it was in the decade's final year that the previously unthinkable became commonplace reality. The year that brought 13% inflation, 14% mortgage rates and 15¼% prune rates also saw $225-a-day hospital rooms, $500 off-the-rack men's suits, the 25? Hershey bar and the $3.50 martini. Millions of Americans had to postpone their dreams for a home of their own; the average price of a few-frills...
...everyone from drivers to drinkers was victimized, the Chicken Little pessimists, who had bet on bullion and other precious metals, were made to look prescient. Among the winners were people who had shrewdly put away dimes, quarters and half dollars minted before 1965; at year's end an original $1,000 in those almost pure silver coins was worth $16,300. But anybody who had put his money in a savings bank was a sucker; a $1,000 deposit declined in real value during the year to about $900, after inflation and taxes on the interest receipts...
...spent scarcely 10% of its national income on new factories, mines, tools and transportation systems, its allies and competitors the West Germans and the Japanese were investing 15% and 16.2%, respectively, of their incomes in such capital goods. One result: U.S. productivity, which had risen an average 3% a year in the 1960s, declined by more than 1%. There were other reasons for this deterioration in production per hour worked. Among them: the heavy burden of Government regulations, the entry of so many untrained first-time workers into the labor force, and the decline of research and development, in part...
...Office to add their signatures to a twelve-page protocol that had already been initialed by representatives of Britain and the now defunct Salisbury government of Prime Minister Abel Muzorewa. The document: a three-sided agreement for a complete cease-fire in Zimbabwe Rhodesia's increasingly bloody seven-year civil...
...rifles, portable antiaircraft missiles and other sophisticated arms. Employing classic hide-and-seek guerrilla tactics, the "boys," as they are affectionately called by the villagers who harbor them, have achieved control over much of the countryside. On occasion they have even left the bush to strike in Salisbury: a year ago, a raiding party blew up a gasoline depot, destroying a month's supply of fuel...