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Updated: June 1, 2025
And these were only a few, picked from the interested or disinterested thousands who besieged him with advice, importunity, threats, and attempted blackmail. And he handled them all in turn, stolidly but with decision. His obstinate under lip protruded further and further with rare recessions; his heavy head was like the lowered head of a bull.
The line traced was two miles and a half long, following the recessions and salients. The right of the line, occupying a ridge extending from creek to creek, was nearly parallel with the river, and distant from it fourteen hundred yards in an air-line. It was somewhat convex, projecting to the front about its centre, at the point where Porter's battery was afterward posted.
His conscience was troubled, and his favorite palliative of conciliation did not seem applicable to the case. Until this time the course of financial events in Benham since its evolution from a sleepy country town began had been steadily prosperous. There had been temporary recessions in prices, transient haltings in the tendency of new local undertakings to double and quadruple in value.
To understand the state of the Union, we must look not only at where we are and where we're going but where we've been. The situation at this time last year was truly ominous. The last decade has seen a series of recessions. There was a recession in 1970, in 1974, and again in the spring of 1980. Each time, unemployment increased and inflation soon turned up again.
They signal visceral aversion to inflation but ignore the risk of deflation altogether. As inflation subsides, disinflation seamlessly fades into deflation. People accustomed to the deflationary bias of central banks expect prices to continue to fall. They defer consumption. This leads to inextricable and all-pervasive recessions.
We coined the word "stagflation" to describe this. Government's response to these recessions was to pump up the money supply and increase spending. In the last 6 months of 1980, as an example, the money supply increased at the fastest rate in postwar history 13 percent. Inflation remained in double digits, and government spending increased at an annual rate of 17 percent.
With the inevitable staring them in the face, the men had achieved something of a gay recklessness. Hilary found some natural recessions under overhanging masses of rocks that would afford protection from the searing power of the rays. To be effective, the fliers would have to land in the valley or fly low, thus exposing themselves to the raking fire of the Earthmen's weapons.
Designed to check inflation in earlier years, it now checks growth instead. It discourages extra effort and risk. It distorts the use of resources. It invites recurrent recessions, depresses our Federal revenues, and causes chronic budget deficits.
He had not yet seen the shadows: the tiger was not alone. There, stretched lengthwise amid recessions in the descending, stair-like levels, as if the whole of a deceased family among the layered shelvings of a crypt, a full score of the dreadful reptiles lay sleeping. It was a sight to freeze the blood, but for one odd detail which their considerable girth clearly illustrated.
The solid forms of an object, that is to say, the projections or recessions of its surface within the outline, are, for the most part, rendered visible by variations in the intensity or quantity of light falling on them. The study of the relations between the quantities of this light, irrespectively of its colour, is the second division of the regulated science of painting.
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