Bowling Green State University ScholarWorks@BGSU BG News (Student Newspaper) University Publications 11-30-1973 The BG News November 30, 1973 Bowling Green State University Follow this and additional works at: https://scholarworks.bgsu.edu/bg-news Recommended Citation Bowling Green State University, "The BG News November 30, 1973" (1973). BG News (Student Newspaper). 2910. https://scholarworks.bgsu.edu/bg-news/2910 This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License. This Article is brought to you for free and open access by the University Publications at ScholarWorks@BGSU. It has been accepted for inclusion in BG News (Student Newspaper) by an authorized administrator of ScholarWorks@BGSU. An Independent Bowling Gntn. Ohio Student Friday, November 30, 1973 Voice ■me BG news Volume 57/Number 43 Low-level economy predicted for 1974 It wouldn't bo too ridiculous to guoss that a Now York auto owner decided to sell his car WASHINGTON • \P' The energy recommending rationing to Nixon The units nexl year compared with 2 CTifhl will push the nalum s economy President however views rationing as million this year because of the gasoline down !o near-recession levels nexl a last resort shortage. Meanwhile, a year and torce the unemployment rale DESPITE anticipated luel shortages service station in Queens once up to nearly 6 per cent. President PRESS SECRETARY Ronald L at home, the nation is continuing to again runs out of gas and a Nixon s chiet economist said Ziegler said contingency plans are send oil to allies in South Vietnam. Queens resident stocks up on Cambodia and Thailand, the Pentagon yesterday being dratted lor rationing but added gasoline cans. that Nixon hopes the steps he has said But a spokesman said the cutoff AuMlatxi '■•■. Wiraptwo Herbert Stein chairman ol the already taken will eliminate the need has reduced amounts the United States t'residenl s Council ol Kconomic tor that move can deliver \d\isors said the economy will (!ro» The economic assessment besides very slowly in 1H74 with the luel accounting lor the Arab cutolt. Man) o! Stein s economic torecasts shortage directly causing a 2 per cent assumes that Nixon's energy-saving have tailed lo hit the mark in the past cutback in economic output programs would work, said Stein In January, his council said that Stein said his predictions assume consumer prices would be rising at the that the Arab oil culolt continues next This means that the burden ol the rate ot 2 f> per cent at the end ot the year Shortages must be borne mainly by year Thev are going up al a rate of consumers who must cul down on about 8 per cent now REPORTING ON a high-level nonessenlial driving and on thermostat assessment ol the shortage s economic setting in their homes, he said impact Stein told newsmen that Stein said the economy s growth next \merirans can also expect sharply \ear as measured by dross National higher tuel prices Bui he said the Producl market value ot the nation s intlation picture is too cloudy to make goods and services, could be only 1 per Faculty anticipates slowdown a prediction cent The normal growth rate is 4 per It the jobless rale docs rise lo the cent almost b per cent level forecast by the countries unemployment would not be administration it means that more HE SAID the worst impact would By Mama Shanrr petroleum or natural gas." I)r Navin IN THE AREA of consumer than a million more workers will lose come in the tirst si\ months ol next Staff Reporter said products, the auto and steel industries expected lo rise he added jobs The unemployment rate is now le.n .oul raised the possibility that This recession will be characterized will lace serious problems but. Dr Haas said people laid oil their jobs could be found employment in 4 5 per cent ot almost W million output oi the economy could .IVtiiallv Faculty members ol the economics by both increased unemployment and depending on the world market, other industries such as agriculture should industries thai use less energy "The workers decline from January through March department agree with the government increased prices, unlike previous government can find other needs and riie government had predicted the prediction that the energv crisis ma) recessions when unemployment rose not leel the strain as strongly. use these people lo produce these jobless rale would have exceeded > pet The chairman ol the Civil cause a major slowdown in the nation's and prices went down llr Navin said according to Dr Navin uncreated prices will result Irom needs, he explained cent without the Araboilcutoll Xcronautics Hoard itoberl l> Tunm economy put the economic impact in more The crisis will create major jolts in demand being greater than the supply The United Stales can anticipate ol products, he added shortage bottlenecks: in unexpected DR. BROWNE agreed that AS ST KIN reported the precise terms He said il ptohahlv will the I S economy but will not crush it. Effects ol the recession will not be areas such as the plastics and plywood displacement is inevitable but an administration s view ol the economic result in some cities losing all according to I)r Leo J Navin. lelt evenly across the nation. I)r Navin industries which both require increase in unemployment is not impact ol the crisis the White House scheduled all service department chairman In an interview Wednesday In predicted petroleum supplies lor production, he disclosed that President Nixon will In remarks lo the Houston \vi.mon He said in other countries another Navut said the first substantial signs oi ' Heavy industrial areas will be hit indicated meet with his Cabinet level energy Committee Tunm referred to Nixon s job is made available to the job-holder recession will come next year hardest, he said Cleveland, Akron program to rut hark tuel supplies to if he is laid olf Often this requires group today Recession is a period ol no industrial and Detroit may have 12 per cent or II may take Irom one lo three years the mi line.-. Such a mine usually means that a growth and the main reason lor the hiuher unemployment rates but other to make adjustments to the energy retraining in a different field, he decision is near The energv group is impeding recession is the fuel squeeze, areas will nol have as serious situation and industrial outputs. Dr added studying whether gasoline rationing a The luel shortage will cause an even arrording lo Or Navin problems " Navin predicted More time will be slitt increase in gasoline tax or both more depressed housing market nexl needed to readjust lor long-term "Training and relocation can soften the blow of unemployment lor the should be imposed to dampen demand year said economists al a conference •THE COUNTRY is going to Although other states may be in industrial growth, he added Stein said no decision had been made sponsored by the Federal Home Loan experience a serious recession because belter condition than Ohio, Ohio as a individual, but our society does not accept this responsibility to the eithei way but sources said that the Bank Hoard in Washington They said there is not one industry that isn't state is probably in reasonably good What - going lo take time is lor the individual," Dr Browne said energ\ group is leaning heavily toward housing starts could dip to 1 ."> million afferled directly or indirectly by shape l)r Navinsaid economy to move its resources into now forms ot products and "This is atypical of many other industrial countries." he added False statements made in April manufacturing processes THE ENERGY CRISIS will instigate Dr Browne said often those job- some unemployment yet machines will holders who are laid off first are the nol be replacing human beings, as was least skilled workers, members of once predicted. Dr Navin said minority groups or women because Managers will need to be innovative they often have the least seniority Chapin indicted on lying counts and to make substitutions of man power lor machine power. he "WHAT WILL HAPPEN lo auto explained workers who are getting laid off a month before Christmas'' Think of the WASHINGTON iAP> Former newsmen he is considering asking the suspicion and visceral dislike lor this campaign donation once deposited Dr Neil M Browne and Dr Paul F effect this will have on retail sales." White House appointments secretary White House to turn over all President and this administration.'' there -THE FEDERAL court hearing into Haas, both associate professors ol Dr. Haas added Dwight L Chapin was indicted presidential tape recordings for -MIAMI'S CHIEF prosecutor an m minute gap in a crucial economics, said yesterday thai yesterday on lour counts ol lying to the safekeeping, so that there couldn't be confirmed that he has evidence Nixon Watergate tape continued and White although unemployment will increase Dr. Haas said the Nixon Watergate grand jury about his anything happening to them " Seven kept a $100,000 certificate ol deposit in House lawyer J Fred Buzhardt due to the fuel shortage, it is "neither Administration, like traditional contacts with political saboteur Donald subpoenaed tapes already are under the same bank where the President's testified that he was able to succeed in necessary nor desirable Republican administrations, "is more H Segretli court guard, but the White House still friend. C l> Hebe Rebozo. kept a duplicating a humming sound conrerned with price stability than Chapin. 32. was charged with making holds the rest secret $100,003 cash gilt from hil obliterating conversation on the tape "Unemployment would nol have to with full employment " lalse declarations under oath last April lion.HI e Howard H Hughes State Ally But Buzhardt testilied that experts go up il Ihe government instituted II Among other things.