Economists warn U S headed for recession in near term
Economists Wilfred Lewis Jr and Henry Kaufman told the Joint Economic Committee that the United States is likely to enter a recession later this year or early 1974 as inflation follows a boom. They warned the current stimulus may fuel inflation and risk a downturn if not restrained.
MENTIONED IN THIS ARTICLE
Washington
UPI
United States
Wilfred Lewis Jr
National Planning Association
Henry Kaufman
Salomon Brothers
New York
Joint Economic Committee
Kaufman
Lewis
United States Devalues Dollar by Ten Percent
The United States devalued the dollar by 10 percent to boost exports and reduce a large foreign trade deficit. Nixon approved the move announced by Treasury Secretary George P. Shultz, with Congress needed to raise gold prices to implement the change. The package also includes tariff adjustments and ending the interest equalization tax.
MENTIONED IN THIS ARTICLE
Washington
UPI
United States
Nixon
Treasury
George P. Shultz
U.S
Shultz
Congress
White House
San Clemente
Calif
Four theater workers slain at Rolling Hills Theater
Police described a brutal robbery at the Rolling Hills Theater where four employees, one woman and three men, were found dead after serials. Their throats were slit and their hands bound, with about $2000 in weekend receipts missing and no weapon recovered.
MENTIONED IN THIS ARTICLE
Torrance
UPI
Rolling Hills
Jim Foster
Foster
Byrd probes nonhostile Vietnam deaths in military record
Sen Robert Byrd asks the Defense Department to explain why noncombat causes killed 10 306 U S servicemen in Vietnam, including 2 229 from homicides or safety related wounds. He cites 1971 drug deaths rising 64 percent and 34 fragging fatalities, urging policy review.
MENTIONED IN THIS ARTICLE
U.S
Vietnam
POWs Return to Families After Vietnam Captivity
The UPI report follows the first wave of returned prisoners of war arriving at Clark Air Base Philippines. Capt. Mark Smith and 141 others appeared on screen reuniting with families with mixed emotions. Soldiers describe endurement and changed lives while relatives recall hopes and fears.
MENTIONED IN THIS ARTICLE
Jeffrey
Daddy
Army
Mark Allyn Smith
Hawthorne
Calif
Philippines
Smith
Vietnam
Risner
Oklahoma City
Okla
North Vietnam
Korea
Navy
Everett Alvarez Jr
Santa Clara
Storms in Southern California Kill At Least One Person
A new storm in Southern California causes fresh snow in the mountains and flood risks. Over the past three days nine deaths from storm related events are reported including seven traffic deaths and two drownings. Rescue teams pulled seven stranded hikers from the San Gabriel range while a search for Ronald Eugene Gidcomb continued. Fire crews could not reach a ranch home in Ojai Valley due to flooded roads, leaving a $50,000 loss.
MENTIONED IN THIS ARTICLE
Los Angeles
UPI
California
California Highway Patrol
San Bernardino
Interstate 15
el Cajon Pass
U.S. Weather Bureau
San Gabriel Mountains
Ronald Eugene Gidcomb
San Diego
Mt. San Jacinto
Riverside County Sheriff's Deputies
Gidcomb
Ventura County
Oak View
Ojai Valley
San Antonio Creek
POW Promotions Hit Most Released Prisoners at Clark Base
Most of the first 135 POWs freed by the Communists learned they had risen at least one rank on arrival at Clark Air Base in the Philippines. More than 80 percent appeared promoted, with several senior officers possibly vying for flag rank. back pay and future insignia will confirm the promotions.
MENTIONED IN THIS ARTICLE
Washington
UPI
Clark Air Base
Philippines
Clark
Navy
Pentagon
Defense Department
Air Force
Robinson Risner
James B. Stockdale
New Assembly rules take effect limiting weekly floor sessions
Sacramento reports new Assembly rules approved by voters last fall limit floor sessions to one full meeting per week. Speaker Bob Moretti says the changes will facilitate timely action on legislation. Routine business to be heard Monday with two days of committee hearings, then Thursday full Assembly to pass measures to the Senate.
MENTIONED IN THIS ARTICLE
Sacramento
UPI
California
Assembly Revenue and Taxation Committee
State Assembly
Assembly
Bob Moretti
D-Van
Senate
Mudslide closes Big Sur Highway 1 for months
Torrential weekend rains triggered rockslides mudslides and washouts on the 75 mile Highway 1 between Carmel and the Hearst Castle. Authorities say the cliffside road will stay closed up to three months after a fatal slide, building destruction and stalled cars in Big Sur. Roadblocks are in place at Carmel and north of San Simeon.
MENTIONED IN THIS ARTICLE
Big Sur
Calif
Upi
Carmel
Hearst Castle
Pacific
Monterey Bay
San Simeon
William Randolph Hearst
Also Mentioned on This Page
Lewis and
Lompoc
Lompoc Record
Lompoc Record Publications
North I St. Lompoc
Regent
Kenneth L. Adam
Harry J. Crompe
Lawrence C. Grossman
J. Donald Adam
Rennie L. Adam
Gaylen
Audit Bureau of Circulations
Robert C. Byrd
D-W. Va
Defense
United Press International
Jeffrey Smith
Loc Ninh
Thomas E. Collins II
Clinton, Miss
Donnie
Shirley Johnson
Detroit
Bobby
Jeremiah Denton
Virginia Beach
Jim
Robert Peel
Big Sandy
Tenn
Fred Peel
Toupee
Richard Keirn
Tampa
Fla
Cmdr
Anthony Moore
Scottsdale, Ariz
Robert B. Purcell
Louisville
Disneyland
Central Park
Lompoc Theatre
Jv Rin Cincs Snot
Stamley Kubrick
Technicolor
Goerwart Danes P
M.A.S.H
Brother of
Wind
Toklat
Warner Bros
Phil Feldman
Panavision
Walt Disney
Big Sur Area
Jorgensen Jewelers
Lompoc Shopping Center
Brother of the Wind
Teklat
Dismey
Gemini Cinema
Northside
Slaughterhouse
Ali
Warhatin HY Hex Allen
Hein
James Garner
Doc
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