NBC Evening News for Thursday, Aug 22, 1974
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(Studio) gross national product figures show inflation. Declined for 2 consecutive quarters; textbook definition of recession.
REPORTER: John Chancellor
(DC) [Econ. Pierre RINFRET - says there's been recession for some time. Need to cut back wild government Government must decrease spending. World out of economic control; could go in depression.] [Econ. Eliot JANEWAY - says recession isn't danger; depression is. Inflation getting worse, Govt. should get its house in order.]
REPORTER: Phil Brady
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