PHASE IV: Prices Leap, Tempers Rise

Pushing through supermarket aisles thronged with anxious shoppers last week. Housewife Katie Wolff of Winnetka, Ill., an affluent Chicago suburb, was exasperated. "Nixon has lost control of things," she said. "Prices are so high we haven't had pork chops or steak in a month." Mrs. Joan Sheets of Los Angeles had the same complaint: "They tell us to eat less expensively, but just try finding a cheaper cut of meat. Even bologna is $1.30 a pound."

In the first full week of Phase IV, each costly ring of the check-out cash register seemed...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!