The News and the Ads Paint Worrisome Economic Portrait
Things to rev up the worry machines: Times Business, Nov. 22, 1987:
Page 1, Denise Gellene--â€$100 Dolls . . . the price tag is ‘in keeping with our life style,’ says . . . a marketing vice president.â€
Page 2, A. Gary Shilling--â€Consumers account for two-thirds of GNP, so spending restraint will drag down the whole economy. And the recession, which will probably start early in the new year, could be long and deep if it spawns severe protectionist legislation here and abroad, and financial crises that the Federal Reserve and other monetary authorities cannot contain.â€
Page 17, Advertisement--â€The General Services Administration desires to lease . . . usable square feet of courtrooms, judges’ chambers and related space for the United States Bankruptcy Court. The term of the lease will be five years.â€
Hardly dazzling is the future’s economic crystal ball!
LARRY KELBLEY
Rancho Palos Verdes
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