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Includes a political introduction of George Deukmejian as a California Republican candidate for Attorney General, with ticketing and reservation details, followed by “Friday Flashes—August 25, 1978” commentary by Joseph A. Wahed predicting a 30–40 percent recession chance in 1979. Focuses on inflation as the biggest challenge, links it to deficit spending, oil price shocks, weak dollar effects, productivity issues, and legislated constraints, then continues discussion of inflation risks and recession pressures.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":45,"@type":76,"position":81},"https://docshare.wps.com/document/religion-spirituality/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/advance-ticket-sale-luncheon-report-meeting/325478/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/advance-ticket-sale-luncheon-report-meeting/325478.png","ImageObject",300,407,{"name":92,"@type":93},"Noah","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-09","2026-09-21",true,{"@type":102,"interactionType":103,"userInteractionCount":24},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What event and candidate information is provided in the luncheon section?","Question",{"text":112,"@type":113},"The document presents an Advance Ticket Sale Luncheon with information about George Deukmejian, described as a California Republican candidate for Attorney General.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What recession outlook does Joseph A. Wahed discuss?",{"text":117,"@type":113},"Wahed predicts a 30–40 percent chance of recession in 1979, linking concerns about next year to prolonged expansion and emerging economic problems.",{"name":119,"@type":110,"acceptedAnswer":120},"According to the document, what is the biggest economic problem discussed?",{"text":121,"@type":113},"Inflation is identified as the biggest headache, described as public enemy number one and a key force shaping the future.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},325478,1790456225,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":44,"category_name":45,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":24,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":34,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":143,"read_time":144},8796095462418,"https://ap-avatar.wpscdn.com/avatar/80000253c1241d02b47?x-image-process=image/resize,m_fixed,w_180,h_180&k=1778826106357471780","Friday,Sept.8,Noon  \nThursday,Sept.14,Noon  \n·Proposition 1:GovernmentalFinance  \n·Proposition 2:BusinessEconomics  \n·Proposition 3:Transportation  \n·Proposition 4:Health  \nHoliday Inn,Union Square                 Cotillion Ballroom  \n# Advance Ticket Sale Luncheon\n\nThe Honorable  \nGEORGE DEUKMEJIAN  \nCalifornia State Senator  \n# Republican Candidate forAttorney General\n\nIn his 16th year as a California legislator,George Deukmejian is Senate Minority Leaderand author of the 1977 legislation restoring capital punishment in the state.He alsoauthored law enforcement bills to provide mandatory jail sentences for anyone convictedof using a gun in the commission of a felony or inflicting great bodily harm upon victims60 years or older,or upon persons who are blind or disabled.  \nTickets—$9.50 in advance.Tickets must be picked up or paid in advanceAllunpaid reser-  \nvations will be cancelled at 4:30 p.m.,Wednesday,Sept.6.Call 362-4903 for reservations.  \n# REPORT MEETING\n\nNovember,1978 State Ballot Measures  \nCommonwealth Club Study Sections will report their findings in analyzing the sevenmeasures which California voters willdecide on TuesdayNovember 7:  \nTickets—$7.50.Call 362-4903 for reservations.Discussion will be conducted underthe three minute rule following section presentations.  \nSTEVEN A.DIAZ,Quarterly Chairman  \n·Proposition 5:Health  \n·Proposition 6:Education  \n·Proposition 7:Administrationof Justice-LawEnforcement  \n·Proposition 8:  \nSheraton Palace HotelRoyal Suite  \nWahed Predicts 30-40 Percent Chance of Recession in 1979  \n# FRIDAY FLASHES—AUGUST 25,1978\n\nFrom Address by Joseph A.WahedVice President and Manager,Economics Department,  \nWells Fargo Bank  \nMy first questions to deal with,are:Why are so many people concerned aboutnext year?And why are some economistssaying that a recession is just around thecorner?  \nOne answer is that the economy is in its41st month of expansion.Very few recov-eries have lasted more than that.Forexample,the average for our peacetimerecoveries has been about 33 months.Thisexpansion will certainly be recorded asone of the longest we've had in our history.Well,the natural question,of course,iswhen will it end?  \n## Scattered Evidence\n\nThe fact of the matter is that the longerthe recovery lasts,the more problems it islikely to run into.We have scattered evi-dence,for example,of shortages in skilledand semi-skilled labor.More serious is thefact that productivity is very poor and thatprices are rising very rapidly.Financialstrains and interest rates are rising.Thereare other danger signals:A weak U.S.dol-lar abroad,continued overspending by thegovernment and a world economy which isbarely growing.  \nIn my judgment,however,the biggest  \nheadache we have right now is inflation.Every survey I have seen points out thatinflation is public enemy number one.  \nThus,the inflation rate is a key forceshaping our future.Yet we have failed tofind a cure.What is it about this inflationthat makes it such a formidable opponent?  \n## Deficit Spending\n\nFirst of all,I think that we are now pay-ing the price for our excessive growth inthe money supply,in large part caused bydeficit spending.Since 1972,our budgethas been in deficit every single year,for acumulative total of $320 billion.Further-more,just to drive the point home,ourbudget has been in deficit 20 out of the last27 years.  \nSecond,we have been seriously hurt bythe sharp increase in oil prices since 1973.No one should underestimate the perva-sive effect of the phenomenon.  \nThird,our productivity gains have beenvery poor,especially in recent years.Since 1970,for example,we have onlymanaged a gain of 1.7 percent per year onthe average—well below the 2.8 percent ofthe previous decade.When,at the sametime,wages go up at over 8 percent peryear,there is no way one can keep infla-tion rates below 6 percent.  \n# Devaluation of U.S.Dollar\n\nFourth,the devaluation of the U.S.dol-  \nlar has also left its mark since most im-  \n(Contined on next page)  \n\n| OFFICE","cbCainGwQ7zpn6qZ","https://ap.wps.com/l/cbCainGwQ7zpn6qZ","pdf",1284846,"English","# Advance Ticket Sale Luncheon\n# REPORT MEETING\n# FRIDAY FLASHES—AUGUST 25,1978\n## Scattered Evidence\n## Deficit Spending\n# Devaluation of U.S.Dollar\n# Biggest Headache—Inflation\n## Hard-Core Inflation Rate","[{\"question\":\"What event and candidate information is provided in the luncheon section?\",\"answer\":\"The document presents an Advance Ticket Sale Luncheon with information about George Deukmejian, described as a California Republican candidate for Attorney General.\"},{\"question\":\"What recession outlook does Joseph A. Wahed discuss?\",\"answer\":\"Wahed predicts a 30–40 percent chance of recession in 1979, linking concerns about next year to prolonged expansion and emerging economic problems.\"},{\"question\":\"According to the document, what is the biggest economic problem discussed?\",\"answer\":\"Inflation is identified as the biggest headache, described as public enemy number one and a key force shaping the future.\"}]","Advance Ticket Sale Luncheon - Report Meeting | PDF",1789970623,18]