/ TIME: Almanac 1993 / TIME Almanac 1993.iso / time / caps / 80 / 80capin.1

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|00000050| 4d 61 72 63 68 20 31 37 | 2c 20 31 39 38 30 01 01 |March 17|, 1980..|
|00000060| 4e 41 54 49 4f 4e 01 01 | 54 68 65 20 45 63 6f 6e |NATION..|The Econ|
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|00000e30| 69 73 69 6e 67 20 70 72 | 69 63 65 73 20 69 6e 20 |ising pr|ices in |
|00000e40| 61 6e 74 69 63 69 70 61 | 74 69 6f 6e 20 6f 66 20 |anticipa|tion of |
|00000e50| 77 61 67 65 2d 70 72 69 | 63 65 20 63 6f 6e 74 72 |wage-pri|ce contr|
|00000e60| 6f 6c 73 2e 0d 0a 53 55 | 72 76 65 79 69 6e 67 20 |ols...SU|rveying |
|00000e70| 74 68 65 20 73 63 65 6e | 65 2c 20 4e 65 77 20 59 |the scen|e, New Y|
|00000e80| 6f 72 6b 20 49 6e 76 65 | 73 74 6d 65 6e 74 20 42 |ork Inve|stment B|
|00000e90| 61 6e 6b 65 72 20 46 65 | 6c 69 78 20 52 6f 68 61 |anker Fe|lix Roha|
|00000ea0| 74 79 6e 0d 0a 64 65 63 | 6c 61 72 65 64 3a 20 20 |tyn..dec|lared:  |
|00000eb0| 22 57 65 20 61 72 65 20 | 68 65 61 64 65 64 20 66 |"We are |headed f|
|00000ec0| 6f 72 20 61 20 6e 61 74 | 69 6f 6e 61 6c 20 62 61 |or a nat|ional ba|
|00000ed0| 6e 6b 72 75 70 74 63 79 | 2e 22 20 20 53 61 69 64 |nkruptcy|."  Said|
|00000ee0| 0d 0a 44 65 74 72 6f 69 | 74 20 42 61 6e 6b 65 72 |..Detroi|t Banker|
|00000ef0| 20 52 6f 62 65 72 74 20 | 4d 2e 20 53 75 72 64 61 | Robert |M. Surda|
|00000f00| 6d 3a 20 20 22 53 63 61 | 72 79 2e 22 0d 0a 0d 0a |m:  "Sca|ry."....|
|00000f10| 41 63 72 6f 73 73 20 74 | 68 65 20 6e 61 74 69 6f |Across t|he natio|
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|00000f30| 20 69 6e 66 6c 61 74 69 | 6f 6e 20 61 6e 64 20 74 | inflati|on and t|
|00000f40| 68 65 0d 0a 41 64 6d 69 | 6e 69 73 74 72 61 74 69 |he..Admi|nistrati|
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|00000f60| 6f 20 64 65 61 6c 20 77 | 69 74 68 20 69 74 20 68 |o deal w|ith it h|
|00000f70| 61 76 65 20 63 61 75 73 | 65 64 0d 0a 77 69 64 65 |ave caus|ed..wide|
|00000f80| 73 70 72 65 61 64 20 64 | 69 73 6d 61 79 2e 20 22 |spread d|ismay. "|
|00000f90| 49 74 20 68 61 73 20 62 | 65 65 6e 20 73 69 78 20 |It has b|een six |
|00000fa0| 6f 72 20 65 69 67 68 74 | 20 6d 6f 6e 74 68 73 20 |or eight| months |
|00000fb0| 73 69 6e 63 65 20 49 27 | 76 65 0d 0a 74 61 6b 65 |since I'|ve..take|
|00000fc0| 6e 20 6d 79 20 77 69 66 | 65 20 74 6f 20 61 20 72 |n my wif|e to a r|
|00000fd0| 65 73 74 61 75 72 61 6e | 74 2c 22 20 67 72 75 6d |estauran|t," grum|
|00000fe0| 62 6c 65 73 20 4a 6f 68 | 6e 20 43 6f 6e 72 6f 79 |bles Joh|n Conroy|
|00000ff0| 2c 20 61 6e 64 0d 0a 61 | 63 63 6f 75 6e 74 61 6e |, and..a|ccountan|
|00001000| 74 20 69 6e 20 43 61 6e | 74 6f 6e 2c 20 4d 61 73 |t in Can|ton, Mas|
|00001010| 73 2e 20 44 61 76 69 64 | 20 54 72 61 76 65 72 2c |s. David| Traver,|
|00001020| 20 61 20 73 74 75 64 65 | 6e 74 20 61 6e 64 0d 0a | a stude|nt and..|
|00001030| 70 61 72 74 2d 74 69 6d | 65 20 64 65 70 61 72 74 |part-tim|e depart|
|00001040| 6d 65 6e 74 2d 73 74 6f | 72 65 20 63 6c 65 72 6b |ment-sto|re clerk|
|00001050| 20 69 6e 20 41 74 6c 61 | 6e 74 61 2c 20 63 61 6e | in Atla|nta, can|
|00001060| 6e 6f 74 20 72 65 70 6c | 61 63 65 20 61 0d 0a 63 |not repl|ace a..c|
|00001070| 61 72 20 74 68 61 74 20 | 62 6c 65 77 20 69 74 73 |ar that |blew its|
|00001080| 20 65 6e 67 69 6e 65 20 | 61 6e 64 20 63 6f 75 6c | engine |and coul|
|00001090| 64 20 6e 6f 74 20 62 65 | 20 72 65 70 61 69 72 65 |d not be| repaire|
|000010a0| 64 2e 20 53 61 79 73 20 | 68 65 3a 0d 0a 22 57 68 |d. Says |he:.."Wh|
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|000010c0| 6f 75 6c 64 20 61 66 66 | 6f 72 64 20 74 6f 20 62 |ould aff|ord to b|
|000010d0| 75 79 20 61 20 6e 65 77 | 20 63 61 72 2e 20 4e 6f |uy a new| car. No|
|000010e0| 77 20 49 27 6d 20 32 36 | 0d 0a 61 6e 64 20 49 20 |w I'm 26|..and I |
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|00001100| 62 75 79 20 61 20 75 73 | 65 64 20 63 61 72 2e 22 |buy a us|ed car."|
|00001110| 20 20 48 65 20 72 69 64 | 65 73 20 61 20 62 75 73 |  He rid|es a bus|
|00001120| 20 6f 72 0d 0a 63 61 74 | 63 68 65 73 20 72 69 64 | or..cat|ches rid|
|00001130| 65 73 20 77 69 74 68 20 | 66 72 69 65 6e 64 73 20 |es with |friends |
|00001140| 74 6f 20 77 6f 72 6b 2e | 20 47 65 6f 72 67 65 20 |to work.| George |
|00001150| 4d 63 43 6f 79 2c 20 61 | 0d 0a 6c 61 77 2d 65 6e |McCoy, a|..law-en|
|00001160| 66 6f 72 63 65 6d 65 6e | 74 20 6f 66 66 69 63 65 |forcemen|t office|
|00001170| 72 20 69 6e 20 43 68 69 | 63 61 67 6f 20 73 61 79 |r in Chi|cago say|
|00001180| 73 2c 20 22 49 27 6d 20 | 74 72 79 69 6e 67 20 74 |s, "I'm |trying t|
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|000011a0| 62 75 74 20 69 74 20 77 | 69 6c 6c 20 74 61 6b 65 |but it w|ill take|
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|000011c0| 20 65 61 72 6e 20 74 68 | 65 20 64 6f 77 6e 20 70 | earn th|e down p|
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|000011f0| 61 63 69 73 74 20 69 6e | 20 42 65 76 65 72 6c 79 |acist in| Beverly|
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|000012f0| 2e 20 22 49 66 0d 0a 61 | 6e 79 6f 6e 65 20 69 73 |. "If..a|nyone is|
|00001300| 20 61 74 20 66 61 75 6c | 74 2c 20 69 74 27 73 20 | at faul|t, it's |
|00001310| 74 68 65 20 6f 69 6c 20 | 63 6f 6d 70 61 6e 69 65 |the oil |companie|
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|00001330| 0a 62 75 73 69 6e 65 73 | 73 2c 22 20 73 61 79 73 |.busines|s," says|
|00001340| 20 44 65 74 72 6f 69 74 | 20 48 6f 75 73 65 77 69 | Detroit| Housewi|
|00001350| 66 65 20 45 75 6e 69 63 | 65 20 4c 65 6f 70 6f 6c |fe Eunic|e Leopol|
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|00001370| 6c 6c 73 20 73 75 72 67 | 69 63 61 6c 20 66 69 74 |lls surg|ical fit|
|00001380| 74 65 72 20 77 68 6f 20 | 75 73 65 73 20 74 68 65 |ter who |uses the|
|00001390| 20 70 72 6f 66 65 73 73 | 69 6f 6e 61 6c 20 6e 61 | profess|ional na|
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|00001400| 20 62 6c 61 6d 65 20 74 | 68 65 6d 73 65 6c 76 65 | blame t|hemselve|
|00001410| 73 2e 20 53 61 79 73 20 | 4f 61 6b 20 50 61 72 6b |s. Says |Oak Park|
|00001420| 2c 20 4d 69 63 68 2e 2c | 0d 0a 48 6f 75 73 65 77 |, Mich.,|..Housew|
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|000014a0| 20 74 68 65 20 65 78 74 | 72 61 0d 0a 63 61 72 2c | the ext|ra..car,|
|000014b0| 20 74 68 65 20 6e 65 77 | 20 72 65 66 72 69 67 65 | the new| refrige|
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|000014e0| 72 20 61 20 79 65 61 72 | 0d 0a 6f 72 20 74 77 6f |r a year|..or two|
|000014f0| 3b 20 74 68 65 79 27 76 | 65 20 67 6f 74 20 74 6f |; they'v|e got to|
|00001500| 20 68 61 76 65 20 69 74 | 20 6e 6f 77 2e 22 20 4f | have it| now." O|
|00001510| 66 66 69 63 69 61 6c 73 | 20 61 67 72 65 65 20 77 |fficials| agree w|
|00001520| 69 74 68 20 68 65 72 2e | 0d 0a 43 68 61 69 72 6d |ith her.|..Chairm|
|00001530| 61 6e 20 6f 66 20 74 68 | 65 20 43 6f 75 6e 63 69 |an of th|e Counci|
|00001540| 6c 20 6f 66 20 45 63 6f | 6e 6f 6d 69 63 20 41 64 |l of Eco|nomic Ad|
|00001550| 76 69 73 65 72 73 20 43 | 68 61 72 6c 65 73 20 53 |visers C|harles S|
|00001560| 63 68 75 6c 74 7a 65 0d | 0a 62 6c 61 6d 65 73 20 |chultze.|.blames |
|00001570| 36 30 25 20 6f 66 20 74 | 68 65 20 70 72 6f 62 6c |60% of t|he probl|
|00001580| 65 6d 20 6f 6e 20 74 68 | 65 20 69 6e 66 6c 61 74 |em on th|e inflat|
|00001590| 69 6f 6e 61 72 79 20 70 | 73 79 63 68 6f 6c 6f 67 |ionary p|sycholog|
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|000015b0| 72 65 61 64 69 6e 67 2e | 0d 0a 0d 0a 42 75 74 20 |reading.|....But |
|000015c0| 6d 6f 73 74 20 6f 66 20 | 61 6c 6c 20 63 69 74 69 |most of |all citi|
|000015d0| 7a 65 6e 73 20 61 72 65 | 20 61 6e 67 72 79 20 61 |zens are| angry a|
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|000015f0| 2e 20 53 61 79 73 0d 0a | 54 72 6f 79 2c 20 4d 69 |. Says..|Troy, Mi|
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|00001610| 61 72 69 6c 79 6e 20 50 | 61 6c 6c 6f 74 74 61 3a |arilyn P|allotta:|
|00001620| 20 20 22 57 65 27 76 65 | 20 68 61 64 20 74 6f 20 |  "We've| had to |
|00001630| 67 65 74 0d 0a 63 68 65 | 61 70 65 72 20 63 75 74 |get..che|aper cut|
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|00001670| 0a 63 68 69 70 73 2e 20 | 57 65 6c 6c 2c 20 49 20 |.chips. |Well, I |
|00001680| 72 65 73 65 6e 74 20 69 | 74 20 77 68 65 6e 20 49 |resent i|t when I|
|00001690| 20 63 75 74 20 61 6e 64 | 20 74 68 65 20 47 6f 76 | cut and| the Gov|
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|00003e50| 1a 0d 0a 0d 0a          |                         |.....   |        |
+--------+-------------------------+-------------------------+--------+--------+