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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 19, 1971
Page
3
New York AP reports a postwar economic shift with Bretton Woods fading, a rising global competition, and 60 trade rules. Domestic jobs may rise from an import surcharge and investment tax credit, with faster retail growth and lower unemployment by year end, though price trends remain unsettled.
Joe Fischer reports on the 9 day freeze possibly extending into April and the uncertain path of prices wages and interest rates. He notes savers mortgage lending trends and potential for a stronger economy yet warns that a removal of the freeze could spark price rises. Consumer confidence rises and stock markets react positively with talk of a new beginning.
John Thomas, 63, owner of a Fall River car dealership, says bandits have stolen drills, cars, carburetor licenses, batteries and generators, leaving him with no tools or cash. He reports twenty robberies over four years and warns thieves that his office door will be left unlocked.
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