THE MICHIGAN DAILY
Friday, April 20; 1973
Page Two THE MICHIGAN DAILY
WASHINGTON ) - Inflation
soared to an annual rate of 6 per
cent and the country's economy
spurted to near-record levels dur-
ing the first quarter of the year,
the government reported yester-
Economists warned that there
are signs the economy is over-
heating and will have to be slowed
The gross national product -
the total value of the country's out-
put of goods and services - in-
creased a record $40 billion from
January through March to an an-
nual growth rate of 14.3 per cent.
The GNP is increasing at a sea-
sonally adjusted annual rate of
$1.235 trillion, the report said, com-
pared to $1.164 trillion at the end
Consumers were both buying
more and paying more, the figures
showed; and a top government
economist said the United States
was experiencing inflation under
conditions of very strong demand.
The economist, Chairman Her-
bert Stein of the President's Coun-
cil of Economic Advisers, called restraining inflation, and it could
the first-quarter inflation rate ex- bring additional pressure to tight-
traordinary. en wage-price controls.
Inflation, accounting for 6 per One government economist in-
cent of the increase in GNP, scor- dicated, however, that the pres-
ed the biggest quarterly jump since sure can't get much greater than
a 6.3 per cent inflation in the it already is.
fourth quarter of 1970. It was more The increase of 14.3 per cent in
than double the rate of 2.8 per the GNP was the biggest in 20
cent in the fourth quarter of 1972. years. It equaled the rise in the
The rate of inflation for all of last first-quarter of 1971 when the econ-
year was 3 per cent. omy was recovering from a reces-
If the 6 per cent inflation is sion and a General Motors strike.
maintained throughout the year, it T
would mean that consumers would The real growth in the economy,
be paying $1.06 at the end of the excluding inflation,was7.9 per
year for each $1 of purchases at cent, down .1 per cent from the
the beginning of the year. last quarter of 1972, but still high-
The government's goal for infla- er than some economists think is
tion this year is 2.5 per cent, and healthy under present circum-
economists still are saying a slow- stances.
down to this rate later in the year: Stein said that while the big in-
is feasible. Their optimism of two crease in output, employment and
months ago however, fias been real income is a "source of gra-
waning. tification," it nevertheless points
The first - quarter GNP report up "a difficult transition ahead of
showed that the Nixon administra- us."
tion has not yet been successful inI "Real output cannot go on rising
at an annual rate of 8 per cent,"
he said. "There isn't enough labor
or productive capacity to sustain
that for very long."j
He said a rate of increase of
about 4.5 per cent would be about
right for a full-employment econ-
omy. The United States with 5 per
cent unemployment is not yet at
the full-employment stage.
Highway bill passes
tWASHINGTON ) - The House in highway funds on the construc-
yesterday passed a $25.6 billion tion or purchase of bus and rail
federal highway bill after defeating rapid transit lines.
an administration - backed effort Congressional sources said the
to tap part of the highway trust House vote "gravely reduces" the
fund for mass transit. chances that the Senate-passed
The measure now goes to con- amendment will survive the con-
ference with the Senate, which has ference in its present formt
approved a provision for using Tt
funds for mass transit. The effort to open up the fund
Final House passage of the three ,had been endorsed by - President
Finl Hus pasag o th theeNixon. But there were major de-
year program came on voice vote. Nixon. BnttheRerubmijan da-k
The House rejected, 215 to 190, fections in the Republican ranks
an amendment that would have as the vote broke along urban-
allowed cities to spend $700 million rural rather than party lines.
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AN EASTER VIGIL AND 0
o FESTIVAL EUCHARIST 0
ti will be celebrated at
ST. ANDREW'S CHURCH
Saturday night, April 21st
at 10:30 p.m.
by CANTERBURY HOUSE
D DONUT WHOLE
900 S. STATE (State & Packard)
WELCOMES YOU TO ENJOY
* fresh donuts
* superb ice cream
* refreshing liquids
Pick up fresh donuts for your morning coffee clutch
The Michigan Daily, edited and man-
aged by students at the University of
Michigan. News phone: 764-0562, Second
Class postage paid at Ann Arbor, Mich-
igan. 420 Maynard Street, Ann Arbor,
Michigan 48104, Published daily Tues-
day through Sunday morning Univer-
sity year.aSubscription rates: $10 by
carrier (campus area); $11 local mail
(in Mich, or Ohio); $13 non-local mail
(other states and foreign).
Summer Session published Tuesday
through Saturday morning. Subscrip-
tion rates: $5.50 by carrier (campus
area) ; $6.50 local mall (in Mich. or
Ohio); $7.50 non-local mail (other
states and foreign).
FILMS FOR FINAL WEEK
Fri., Apr. 20 BELLE DE JOUR
Dir. Luis Bunuel, 1966. (French, subtitles). With Bunuel (Tristana Vir-
diana) having just won the National Society of Film Critic's Directoriol
Award and about to receive the Academy Award for The Discreet Charm
of the Bourgeoise, we thought we'd bring back Bunuel's finest film. Cath-
erine Deneve plays a frigid wife who turns to prostitution in the afternoon
to conquer her sexual fears. Many surrealistic freudian dream sequences
filled with ships, masochism, sadism, fantasies-which are dreamt'and
which are real?
Sat. & Sun., Apr. 21, 22 TH E SI L ENCE
Dir. Ingmar Bergman, 1964. (Swedish, subtitles). Stars Ingrid Thulin and
Gunuel Lindblom. Inability to communicate is one of Bergman's favorite
themes. Two sisters arrive in a large city in which a strange language is
spoken. They choose different ways to express their sexuality. Choices:
promiscuity, masturbation, incest, lesbianism, reproduction.
Wed., Apri. 25 PAMELA AND IAN.
Dir, David Greene, 1971. Ann Arbor made film about a bisexual love tri-
angle. Well received when we showed it here a couple of years ago.
Thur. & Fri., Apr. 26,27 SHADOW OF DOUBT
Dir. Alfred Hitchcock, 1943. Stars Joseph Cotton, Teresa Wright, Hume
Cronyn. Screenplay by Thorton Wilder. Hitchcock's personal favorite among
his films, although rarely seen in Ann Arbor. Study of a teenager's attach-
ment to her Merry Widow Killer Uncle-one of Hitchcock's most terrifying
Short: Betty Boop, M.D.
Sat. & Sun., Apr. 28, 29 NIGHT AT THE OPERA
Dir. Sam Wood, 1935. The Marx Brothers get into the Opera business-
with Margaret Dumont as the patron of the arts. Unforgettable sea cruising
crowded cabin scene. Produced by Irving G. Thalberg for MGM.
Short: T.V. Goofs.
7 and 9:05 ARCHITECTURE AUDITORIUM $1.00
Open 7:30 a.m.-10 p.m.
Project Community & Rainbow Multi-Media present
RAY CHARLESsHW,'73. cHARLESMINGUS
LIGHTNIN' HOPKINS - ORNETTE COLEMAN - LUTHER
ALLISON - The JOHNNY OTIS Showla". t<
LEON THOMAS - HOUND DOG TAYLOR - YUSEF LATEEF
N SNRA - J.B. HUTTO & the HAWKS - ROOSEVELT SYKES
MORE ARTISTS TO BE ANNOUNCEI)
Jacobson's Open Thursday and Friday Until 9:00 P.M.
Get your tickets now
Series tickets are available during April for students who will be
out of town for the summer.
SERIES TICKETS ONLY ($16.00) available at the Michigan Union ticket
desk, World Headquarters Records (330 Maynard) in Ann Arbor, and Ned's
Bookstore in Ypsilanti. MAIL ORDER - certified check or money order
only to ANN ARBOR BLUES & JAZZ FESTIVAL 1973. Box 381, Ann
Arbor, MI. 48107. Please include stampeO, self-addressed envelope with
your order for speedy processing.
(SAYE THIS SCHEDULE)
TONIGHT!!! (Friday 20)
THE THIN MAN
W.S. Van Dyke 1924. Based on Dashiell Hammett's "hard boiled" novel. WIL-
LIAM POWELL, MYRNA LOY.
"An excellent combination of comedy and excitement"- (N.Y. Times). Nick Char-
les throws a concluding banquet and the criminal is unmasked.
SATURDAY 21 April
Fritz Lang 1952. MARLENE DIETRICH, ARTHUR KENNEDY
A brash tale of western banditry with Dietrich as the mistress of a Texas hideout.
"Hungry looking actors swagger and snarl."
SUNDAY 22 April
DESTRY RIDES AGAIN
G. Marshall 1939. JAMES STEWART, MARLENE DIETRICH
Dietrich as Frenchy, cabaret girl of the Bloody Gulch Saloon. Stewart as the new
sheriff. Magnificent fight between Dietrich and "Mrs. Callahan"-with "no holds
barred and full access to chairs, tables, glasses, bottles, water sockets."
MONDAY 23 April
TO HAVE AND HAVE NOT
Howard Hawk 1944. BOGART, BACALL, AND BRENNAN
Screenplay by Faulkner from Hemingway's novel. A tough and tight-lipped tale
of a pro sports fisherman drawn into international intrigue in the Caribbean. Ba-
call's first film.
FRIDAY 27 April
THE HORSE'S MOUTH
Ronald Mearne 1958. ALEC GUINNES, KAY WALSH
Guinness displays "amazing clarity and zest . . . a truly incredible cast of well:
night-flawless British players assist Mr. Guinness in giving form to one of the most
incisive pictures of an artist ever made."- (N.Y. T i m e s). A haunting'portrait
emerges from a disarmingly comical film.
SATURDAY 28, SUNDAY 29 April
THE ROARING TWENTIES
Raoul Walsh 1939. JAMES CAGNEY, HUMPHREY BOGART
HOW THE WEST
* THE TRUE FACTS!
* THE STORY THE
OLD-TIMERS TOLD LATER!
* THE MYTHS LATER
GENERATIONS MADE UPI
(Original Bad Bob)
(The Watch Bear)
ALL ROLLED INTO TWO HOURS
OF PURE ENJOYMENT!
Enjoy it When You See it-Discuss it Afterwards if You Wish
IN THE LIFE AND TIMES OF
4TH NO SHORTS!
HIT/ "JUDGE BEAN"~
I ! PROMPTLY AT
WEEK this 1 P.M.-3 P.M.-
231 south state
shoula T' TE
been.f5: e ***'Ph*ne 642-6261
Miss J is enthusiastic about jacket dressing . . . plain contrasts
with plaid as easy carer polyester/cotton navy seersucker plaid
and solid navy sailcloth coordinates work together in ® wardrobe
of ways. From Patty Woodward, sizes 5 to 13. A. Plaid blazer,
$24. Solid cuffed pants, $16. Long sleeve nylon turtleneck top in
navy or white. S-M-L, $11. B. Top-stitched solid bicycle jacket,
$19. Plaid cuffed pants, $19.
.+.'...._. .. 4lfj +