Inflation shakes markets, thins pay checks, angers voters
Inflation has often been compared to a mysterious, debilitating fever, and rarely has the analogy seemed so clinically exact as in the U.S. last week.
The afflicted economy suffered from shaking chills (wild gyrations in commodity and stock markets) and persistent weakness (the 7.3% drop in workers' purchasing power in the past twelve months is the worst since the Labor Department began keeping such figures 16 years ago). U.S. consumers and voters reacted by expressing anger against the head physician, Jimmy Carter.
Their fury showed clearly...
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