There's nothing more dramatic than watching pilots zoom off the flight deck of the carrier Independence, and nothing more sleep-inducing than watching Ph.D. economists at the I.M.F. launch their spreadsheets.

One by one the missiles impacted, giving the Chinese their first indication that perhaps the attack on the carrier Independence was not such a good idea after all.

The carrier Eisenhower is already on station in the Red Sea, and the carrier Independence is deployed in the Gulf of Oman.

But sending in the carrier Independence will only be seen as a hostile act, perhaps even an act of war.

Shipboard hazards were the furthest thing from Mr. Cochran's mind in 1972 when, as a 19-year-old aviation boatswain's mate fresh from boot camp, he joined the crew of the carrier Independence in Portsmouth, Va.

Six hours earlier, Cheyenne had arrived safely at her rendezvous point with the carrier Independence one hundred miles northwest of Natuna Island.

The carrier Independence and six accompanying vessels are taking up position in the northern Arabian Sea, within striking range of Iraq.

After covering the retirement of damaged carrier Independence (CVL-22) for 2 days she rejoined the carrier striking force for attacks against the Marshall Islands, next target of the Pacific amphibious forces.

The Eisenhower is now in the North Atlantic, and the carrier Independence is in the South China Sea.

"In the Navy it was called a 'liberty' boat," he explained, "because it was used to ferry sailors to shore" from the carrier Independence.