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Newspaper
Pecos Enterprise
Location
Pecos, Texas, United States of America
Date
Jan 17, 1980
Page
8
An editorial weighs two forecasts on canceling a 17 million ton U.S. grain sale to the Soviet Union after the Afghanistan invasion. One view warns of a heavy hit to U.S. balance of payments and growers, while the other expects limited farm impact as grain shifts to livestock and domestic use.
Freedom House reports developments in 161 nations for the year to November 1979. Freedom rose in two countries and fell in nine, with Nigeria and Ecuador highlighted for gains and Cambodia Uganda Central Africa and Equatorial Guinea cited as losses. Pakistan shows the sharpest decline while Iran and China drift in not free or back to repression.
AP analysis notes 44 percent of U Michigan survey respondents said they were worse off than a year prior amid high prices and inflation. Confidence gauges show gloom as The Conference Board records the lowest business optimism since 1976. Economists foresee continuing double digit inflation and rising unemployment by late 1980, with cautious plans by individuals and officials.
The Conference Board reports the 16 largest U.S. metros grew little in 1970–75 with 1.1 million people leaving and annual growth under 0.5 percent. Only Miami Houston and Dallas Fort Worth rose above 1 percent while Cleveland Pittsburgh New York and St Louis shrank.
On this date in history several events shaped world affairs including the 1945 Warsaw liberation by Soviet and Polish troops, 1595 Henry IV declaring war on Spain, 1974 Egypt and Israel agreeing on Suez Force separation, and 1977 Gary Gilmore's execution. Births noted include diplomat Kenneth Bush at 70 and baseball player Darrell Porter at 28.
Washington sources allege Ardeshir Zahedi, once Iran’s ambassador, ran a multibillion-dollar shadow empire from Panama’s Contadora Island. He supposedly routed cash and gifts to U.S. officials, hosted orgies in the embassy’s Persian Room, and maintained luxury assets including armored Mercedes and lavish jewelry.
A Treasury chart shows U.S. motor vehicle production share dropping from over 75 percent in 1950 to under 30 percent by 1970 and remaining there. By 1978 imports accounted for about 25 percent of U.S. sales, with Japanese brands boosting non domestic output and a looming job and inventory crisis.
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