The gamecock. (Columbia, S.C.) 1908-2006, April 25, 1980, Page Page 6, Image 6
Recession
A phenomenon
strikes again
The time has finally come -again. The long-awaited recession is
officially here. Economists and Carter administration officials have
? J 4 U.. flw 1 II J 1L I ?
icuu me ii^ui us anu can i ueny ine siump our economy nas laxen. so,
where do we go from here?
Most economists agree that panic is our worst enemy. Realizing that
inflation can't be cured without suffering and hardship is the first step.
ECONOMISTS WILL TRY to assure consumers by saying recessions
are often beneficial to a society because they purge the system of excesses,
failed products, and mismanaged companies. Recessions are
unavoidable.
Treasury Secretary G. William Miller said six months ago that "we
are halfway through the recession." He corrected himself this month by
saying he was "wrong." Miller has said the current recession will be
going strong as the November election approaches. One can expect
inflation to remain a heated campaign issue in view of this bleak
economic truth.
WITH THE RECESSION, we can of course expect a decline in
production, a rise in unemployment, and smaller profits as people try to
cope with new hardships. T\e recession really won't be anything new to
~'\ny people.
The eroding buying power of all Americans is coming out in less than
( icouraging figures. Consumer prices rose a steep 1.4 percent for the
third consecutive month in March. As a result, prices in the first three
months of 1980 increased at a near-record annual rate of 18 percent.
Prices last vear rose 13.3 Dercent.
THE LABOR DEPARTMENT has recorded a price surge in food and
clothing prices and home ownership costs are continuing to rise sharply
Fuel prices were up 2.8 percent last month, to no one's surprise.
However, this is encouraging news when one considers the increases of
more than five percent in January and February.
How long will the recession last? One might get a general idea by
looking at past recessions. The 1948-49 recession lasted 11 months.
A 13-month recession began in 1953, and in 1957, a nine-month
recession began. The 1960-61 recession lasted nine months, also.
A ONE-YEAR RECESSION hit the American people in 1969 and for
fifteen months in 1974-75 (remember the "gasoline nnnic" and the lont?
lines to the station? ? another recession occurred.
The only advice during this inevitable recession is "Grin and bear it."
Let's hope the economists are right and we'll see a "purging" in our
economic system.
?Guest Column?By
Pamela K. Moody
rflhahilitfltinn nraHiiuto o?
The Russell House Cinematic Arts Committee currently provides
quality films to the Carolina Community, most of which are free. The
students who enjoy these films greatly appreciate the fact that some
form of entertainment is offered to them for no cost.
To keep these free films from disappearing, it is necessary for the
Finance Committee of the Student Government to approve an extra
$12,269 for the Cinematic Arts Committee budget.
AS WAS REPORTED in Wednesday's paper, the Finance Committee
denied this appropriation to the committee. I cannot believe the small
mindedness of the finance committee member who asked how the
Pinom iti/? A t*l o U..J c I?J - r -I. .... -
ic vu.i.uuucc iictluuueu a iun page aa in Me (iamecoct
that expressed their concern over the demise of the free films. It was
like slapping the hand of the committee for daring to teli the studen
bod\ what was going on. It was a childish reprimand that unfortunately
will cost the students of the university an enormous price.
Cjamecock Opinion
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Lette
Frisbee: not'all f\
To the Editor: I
This letter is directed to Mr. James Manichello in /
regard to his April 14 guest column. He seems quite h
upset because the money he supposedly "sweated r
and slaved" for is being allocated for "some jabone c
to toss a frisbee around."
First of all, no one on the USC Frisbee Team is a r
jabone-whatever that means. You obviously used t
this fantasized term in a derogatory manner. I see no r
logical reason for you to put down a group of people ?
you've never met. p
Secondly, I am amazed at your profound ignorance
in regard to the sport of frisbee. The International a
Frisbee disc Association has thousands of registered p
members nationwide as woll as nrtfaniratinnc: in f
Canada, England, and other foreign countries. a
The I.F A. sponsors two yearly meets in cities a
throughout the U.S. and Canada, culminating in the
World Frisbee disc Championships at the Rose Bowl t
in Pasadena, California. The Disc Golf Association c
has a growing membership and recently sponsored a c
tournament with a $50,000 purse.
The U.S.C.F.dc. is built around Ultimate Frisbee.
Clemson, as well as most major colleges, has had an
established Ultimate team for a number of years and
Greeks perforr
'disgusting activi
To the Kditor:
Is the Greek society an essential part of the USC can
bothersome question to many people lately.
There are some who believe Greeks are bigots. There
believe Greeks are snobs. There are even some who belie
have sub-normal IQ's. Are they right? Quite possibly.
Last semester I had the unfortunate "privilege" of s
several Greeks. My former roommate was a prime
initiation into Sigma Nu, he had to do belly flops into poo
i a "brother" had graciously provided.
On another occasion, he had to perform excretion funi
in the middle of a girls' dormitory at the University of No
the Greeks are supposed to be honorable organization:
they perform such disgusting activities?
At the recent British Union Debate, it was brough
Greeks and Independents drink. This is true up to a cerl
Independents and Greeks drink, but Independents drinl
want to, not because they have to. Peer pressure tends
consume more alcohol than they normally would, thereft
their system. This can result in sad consequences, as wai
by the death of a Sigma Nu member earlier this year.
Actually, 11 seems that tne Greek system is hardly mor
? for overgrown high school students. True, the Greeks d
beneficial services, such as raising funds for charity org;
do these positive results outweigh the negative?
i It's also been brought up that almost 2,000 studen
1 Considering the fact that there are more than 25,000 st
' this statistic doesn't seem too impressive.
Greeks also claim that their average G.P.R. is higher
i Independents. What they fail *to mention, however,
fraternities keep back copies of professors' tests. In the (
the Greek system is "essential" only to the Greeks them!
Name withhc
BPS
un and games'
see no reason why USC should not support a team,
although we have been together for a short time, we
lave compiled an 8-1 record this year. We recently
lualified for the championship game in the North
Carolina State Frisbee disc Championships.
Mr. Manichello, your attitude implies that you
egard frisbee as all fun and games 1 seriously doubt
hat you, or anyone on campus that shares your
larrow-minded point of view, would last through a
;ame of Ultimate. You're invited to any of our
>ractices to try.
In closing, I would like to add that 1 too am appalled
it cuts in the media budgets. WUSC is the finest
>mflrpcciu0 ctafinn in (ha ctotn Tho finomnH/* A ??*o
r? ? v kjvunv/ii uiv outiiv*. x iIV/ vyiiiviuaiiv, ni 10
Committee has an excellant program and it would be
tshamed to lose the benefits of the free film series
ind the midnight movies.
However, I would like to point out that while SAC's
>udget was cut by 43 percent, our budget was cut by
?ver 80 percent. It should be obvious that we've been
rut worse than most of the media programs.
Wayne L. Bradby
business administration junior
vice Prcsident-USC Frisbee and disc Club
n
itioc' Hospital
doesn't
ipus? That's a deserve
are some who af'iyfe %
;ve that Greeks 11 J C J? F i 11/
ocializing with _ it
example. For To the Editor:
Is of vomit that With all the wonderful
charities in South Carolina, it
;tions at 2 a.m. seems a shame that the profits
rthCarolina. If from Frank McGuire's Game of
5, then why do Games will go to Providence
rtospiiai. f I
t up that both I Providence has a history oi I
lain point. Both lemployee neglect and l
k because they I mistreatment and has recently I
to make people I been cited by the National I
>re overloading I Labor Relations Board for
s demonstrated I illegal anti-Union activities. I
| The hospital is a definite I
e than an outlet I money-making organization, I
o provide some I with profits of half a milron 1
anizalions. But, I dollars in the first half of 197k - I
I yet, their rates are as high or |
ts are flrwlts I ui-i "
. inkier man any hospital in
udents at USC, 1 Columbia.
So next time, let's make sure
than that of the I that any charity donation in the
is that most 1 name of the University goes to a
jnd, it looks like I deserving charity organization,
selves. I JackBaine 1
.Id upon request | journalism alumnus |