Cedar Rapids Gazette, August 13, 1974, Page 9

Cedar Rapids Gazette

August 13, 1974

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Issue date: Tuesday, August 13, 1974

Pages available: 60

Previous edition: Monday, August 12, 1974

Next edition: Wednesday, August 14, 1974

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Publication name: Cedar Rapids Gazette

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All text in the Cedar Rapids Gazette August 13, 1974, Page 9.

Cedar Rapids Gazette (Newspaper) - August 13, 1974, Cedar Rapids, Iowa Ford Signals End of Economic Policy ttv Av. fur llfdk'V. the I HEATHCLIFF The Cedar Rapids Gazette: Toes., Aug. IS. 1974 By Sylvia I'ortcr NKW YOKK V.'luit the closing i'[ the Nixon ad llie rord presidenc> nieaa to .MIII in terms ol juur own pockelbuok. own personal financial security In bnefi >t First of two columns siiinniary, this minimi mil gnc ynii the over all view, the IH-XI will supply dciails First and above ail, specifics, ll means the lifting ill Ihi" pall n[ uncertainty and indccis) veuess which has darkened I hi' iviuiiiiiiii' in the I'. S fur MI IOIIL' II means an end In the self- deleating economic pnhcv of do-nothmgiu ss which has neither stretujlhened ate enlerprise in iinr land nur curbed the iminliTnus inflation spiral nur inspired conlidonci in our leadership ai Innne or abroad. (June the contrary TlleSC changes __ inherenl in Ihe mere shift (if leadership from Nixon In Ford By Oswald James Jacoby One of the chapters in the Morehead-Frey hook discusses the general folly of bidding your partner's cards for him. This hand is given as a proper example of when to bid for your partner. The reason is that while he probably has lit- tle nr nothing in the way of strength, his cards such as they are will help you. If West had opened ace and one spade he would have bea- NORTH 109 V 108752 !Q8 10 7 6 2 WEST EAST 4 A4 62 VK6 A J 9 4 J1062 974 A K ,1 5 4 Q 9 8 3 SOUTH ID) KQJ8753 Sylvia Porter spell an economic plus of enormous significance Confidence Boost Those alone mure in the realm of psychology at tills strict of actual economic pro-.Tams u ill help iimle Ihe i-oiinlry. astly c public con- hdeure cheer par- ticularly Tile fact that the sus- pense about Nivnii is and Nixunomics js will help our economic relationships will) our allii'S in Western Kurupe and .lapan. make possible the economic cooneratinti ;nmiii" us which is so imperative In fiL'ht inflation, bring liack onr foreign economic policy tn the positive force it was before took On economic policy at home and abroad, the While House was always weak, vacillating, non-intellectual in approach, and frankly based on flexibility rather than on any principles whatsoever. Despite his public slalemenls to the contrary, his sorry attempts to convince the TV audience that he was in charge witness his last as1 toundingly vapid economic address the former President did not care at all about economics, as he so shockingly revealed in his own presidential tapes. For instance, on the issue of relative currency stability (vi- tal In world prosperity) Nixon remarked: "I don't give a (expletive deleted) about Mis top advisers except for those he appointed at the very end and for Arthur Burns, the world-respected economist he appointed as chairman of the Federal Reserve Board also were philosophically against government intervention to curb runaway inflation and for do-nothingness. Their distaste for wage-price controls was a major reason the controls failed so miserably. A K 5 3 East-West vulnerable West North East South Pass Dble Pass Pass Pas Opening lead ten the hand, but he did open the king of clubs. South ruffed, led a diamond to dummy's queen; and a second diamond back to his ace. ruffed his small'dianiond and played a trump. West took his ace and led his last diamond. East ruffed and the contract had flown away. Once dummy had been able to ruff that low diamond. South had a sure thing play staring him right in the face. All he had to do was to ruff a second club in his hand, ruff his king of diamonds with dummy's last trump, show the opponents his hand and claim his contract. He would have six tricks in and four sure trump tricks le 'onie. The bidding has been: I'i West North East South Pass 2 Pas? Pass 3V Pass 3 N.T. Pass You. South, hold. Q65J QH54 K 2 What do you do now? A You have a magnifi- cent hand, hut your partner has heard your bids and Ihe com- bined hands are clearly a misfit. TODAY'S KSTIO.N Instead of bidding three notrump your has bid Ihree spades over ycnir three What do von do now'1 Ansui-r Tomorrow As for monetary policy, tin 1' edi'i'al Keset in si made liie terrible error uf pumping credit inlii the economy prior til Hie cleeliotis Id liolsler veie-i'i'llmg prosperity And then, when the While IliniM' defaulted mi anli-infla- tHiii policies, tin- central bank adopted a brutally tmigh credit in help cnii! the mfhttiun 11 had Hsell helped create. As the Xixnn administration closed. Ihe Federal Reserve carrying virtually the en- tire burden o! the inflation battle, nsiim itMiuly weapon of banl-to-gel credit for such basic industries ai huiiMiig and hoi tendoiislv hmh interest rates.. Yet this weapon is discriminatory and crude. Ami high interest rales on their own add lo inflation, for the cost of borrow ing is as much a part of doing business and of hv ing as the cost of food and fuel. More tse L iiucr tiiiMigii, iiitTe will be a shift toward more use of fiscal policy (budget and taxes) to take some of Ihe heat off the Federal Reserve and permit an easing of the credit squeeze and a decline in interest rates. There will be an immediate move away from do-nothing- ness as the lough anti-inflation men around Ford try lo control the federal budget and cut enough spending to bring it in- to balance in real-life terms of dollar outgo equal to dollar in- come (rather than fancy con- cepts devised for Ford has said he believes Treasury Secretary Simon's hopes for budget cuts of as much as billion are not feasible, but he also has said cuts of several billions are feasible and a balanced budget is essential. New Umpire In economic terms. Ford'; administration is not a new ball game. For in economics, what is to happen already is happening, and it never is a "new" ball game. But there is a new umpire. There is a new sense of depen- dability and decency and drama even in Ford's undramatic self. It's all on the plus side. Next: The Xn. 1 problem inflation. Seek Protein Boost For Benefit of Millions LOS BANDS, Philippines (UPI) li.e next miracle in rice research is the imminent development of a new variety that contains 25 percent more protein. That's the goal that the In- ternational Rice Research Ins- titute, based at this town 40 miles south of Manila, has set for itself. Such a discovery will benefit one-third of the world's population 1.3 billion people who depend on rice for more than half their food. 1R8. Hie first "miracle rice." developed at the institute eight years ago, is 8 percent protein. But scientists now hope to produce a variety by cross- breeding that will contain 10 percent protein. That would mean 25 percent more protein in rice, the staple food of some of the poorest people in the world, those who according to World Bank figures have an annual in- come of only Every Meal Millions of Asians eat nee at every meal. Too often, rice is their entire meal. "It's possible to breed in protein as high as 13 or 14 per- cent." said Thomas Hargrove, a young Texan at Los Banos who studied agriculture in college and says he learned a lot of practical things annul rice-growing while serving as a 1'. S. army officer in Ihe pacification program in Viet- nam 'The problem is Ihal the yield drops ....en the protein content goes too high." lie' said. So the goal of the scientists here is to create a rice that yields as well as IRS, but which has 25 percent more protein. Chemists have analyzed the protein content of varie- ties of rice from around the world. Six were selected and crossed with 1R8 and the offspring has been grown through several generations. Choosy on Taste Asians, sometimes even hungry ones, are particular about the taste of the rice they eat. But scientists at Los Banos say taste panel tests have shown that rice with two per- centage points more protein cannot be distinguished from lower-protein rice. For What Relief Is There for Arthritis? By Audi Imaii "What can be dune fur a person with rheumatoid arthritis'.'" a reader writes. "My molher has suffered from this disease for several years now and I'd like to do everything possible to make her comfortable." One of the two most common forms of arthritis, rheumatoid arthritis involves not only the joints but frequently other connective tissue. As the disease advances, the car- lilage, the soft, flexible exten- sions of bone at the joints. Dr. Andelman deteriorales and may even disappear. Then the cartilage is replaced with a growth of fibrous tissue that can even- tually become hard and bonelike, fusing (he joint together so it can't bend. For- tunately, most cases of the disease don't advance this far. The typical patient will have some swelling at the .joints and limitation of movement, but mil to the extent that it '.crip- ples him. Cause Unknown The cause of rheumatoid arthritis is still unknown and treatments, developed on a trial-and-crrur basis, give relief or retard development of the disease rather than curing it. Aspirin and other forms of salicylate are Ihe most com- mon and effective drugs In relieve pain and reduce inflammation in arthritis. Cortisone and other ciir- ticosteroids have had dramatic success in reducing inflamma- tion and pain, but their use is limited because of side effects. Narcotics, gold salts, hor- mones and the so-called an- timalarials are other drug agents used In lessen pain and inflammation. Exercise Bed warm baths, hot he Investor's Guide park-. heat and application ni hnl paralllll are .ill helpful 111 reducing pain and can lie done a! home Hie arthritic, as it helps keep Hie loinls from siit'Tening In inns! cases, the phvsieian can prescribe Ihal Ihe [la'ient can pcrt'ono hv him. self, bin ihe palienl w ith an advanced ease may need help. Our reader and other families of arthritic patients can lie sure their patients have w ell-balanced. nutritious meals. Spei-ial diels and v i- lainin stipplenients -generally proved lo be ineffec- tive, (lood posture habits and correctly filled shoes also help the person with arthritis. Many people with arthritis say they fed much better in warm, dry climates, hut medical sciences doubt that climate is a factor in causing or curing the disease. It is known, however, that arthritic patients do feel worse when Ihe hniiiidily is high and the barometric pressure low. Dr. Andi'lman welcomes let- ters outlining problems which he may discuss in future columns. He regrets, however, that he cannot personally answer mail. Write to him in care of The Gazette. Says Cubans Are Learning Russian MIAMI (AP) Some Cuban young people are study- ing (he Russian language in a new radio-correspondence course being carried out throughout the island, officials say. "The learning of Russian has become a necessity for our said Raul Ferrer, vice-minister of adult educa- tion, in a Havana radio broad- cast monitored Wednesday in Miami. The lessons are transmitted over Radio Rcbelde to students throughout the country who have received text booklets with instructions and exercises to be studied. TRUST CO. 43rd St. 3rd Ave. Downtown 1819 42nd St. NE 191 JacolynDr. NW PHONE 362-2115 Member F.D.I.C. Sam Shulsk, Is ihrre liciny kcjit in K bonds that don I need the JdlHl addilnmai anmiiiilv lhat a shti'. to M bonds rmiht i prefcrreiK" it h- wise to piij S10 Ollli more into commute, wia-o liiei'. to inan> bargains av aiiable'' ill prrccKI) -i! aiiMine's funds should be in- investor is a oi 't't. 7'i, nr a vuiiie.' bosiness man oi The ut hov. Illui 11 should be at work in stoi ks in bonds, in savings aecolin's and in S.oMiis, tor example, is of course ao It seems !o me thai 11 a widow has all but i-iii.iillu of has a v ery large i i-k moi e ''Bargain a relalive leriti. I tbii'.ighl AT and T coinmoil at "ili vAa> a hargain. but here ii is as of !his moment o! wnlim; at i.i heard of large institu- tional funds going hack into ihe market. I've heard of other-; still holding large amounts of cash, fearing further market declines I'm in no position lo be a "hero" with your money, so 1 must vole mat in equities is enough, (I assume from the _ start talking i hold i: tn II bund-, A It's a cinch you cm'! inci'lili- F. i ion IV1" ti- up ;t i pri'i-raiii i Vnni1 in -I i.i-t i-, I'ltln-r -Inn all lin- inln IK .nid lie-in .1 i lici k. ;l lilC oil the ilrruniul.it'-ll V. limn! inli-ri'-t is no prnbleiii. riin rcilcciu am! pui the iiionc'. into hiL'h-Liradc jirclfrrcds. ictduiL; .ibuiii II pcrccii! .1." M tti r. Last February, v, hen I as considering a siiort-tcrm deposit of SHI.Will, the banker persuaded MIC to buy a 7U pen cut, 'ju year treaMir> liond at IIIIM.J mi I he iireinisc that the i.'o higher as lot' resi ra'.cs deireased. 1 feel I made a mistake and that this banker just trying to unload. Shouid 1 hold or take my loss and switch to a higher coupon bond'.' i am 37. single, and losses both in stocks and in bonds. A In this topsy-lurvy economy. Hull's not difficult. Although both bonds and equi- ties are not supposed to down together I I'm quitting schoolboy eou paid the t'oing !ni ihe bonds, tiial ha.'ikei- ituln'i ha'.e to sell Ihein in '.mi bunds are tnidod in hiii.'e amounts all the lime r.i alraol it a mistake in judgment. A 37- siiiLMe ihe slot k market last Kcbruary it turns out, uas the pi'oper attitude) should ha'.e his I'loney into sbori-terni ii: bills so as to be HI a position to go into equities for long-term capita! gam imcsimcnt when lie felt the climate was right. As of the moment, a 211-year treasury 7'2 is selling around K, winch gnes uiu a current >ield of nboiit and a yield lo maturity of 1 don't see much point in .-iwilching around in bonds. Those you have are easily marketable. You might as well slay with them until yon think the stock market is right and then get back where your capital belongs into long-lerin equi- ties. KILLIAN'S Cordially invites you to attend their Fall and Winter Wednesday Evening the Fourteenth of August at Eight O'clock Downtown Second Floor Doors Open at prn PRESENTING ove TOLD DRAMATICALLY FROM COURTSHIP TO ENGAGEMENT TO THE ROMANTIC WEDDING DAY ACKNOWLEDGMENTS: BRIDAL FLOWERS: Newport's Flnrist MUSIC: Leo CorUmiglia BALDWIN ORGAN: Compliments of Cedar Rapids Piano and Oi'Kan Company MEN'S FORMAL WEAR: by Prince Albert TABLE SETTINGS: Killiun's China, Crystal and Silverware Departments Registry for FREE Door Prizes for Brides-to-Be ;