Word: absorber
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Dates: during 1970-1979
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...much as it did with the other two holdouts; doctors in Jakarta pronounced him "exceedingly fit," even though at week's end he was suffering from a mild case of malaria. A member of the Ami tribe from Taiwan-long reputed for their bravery, stamina and ability to absorb hardship-Nakamura would like to return home and join his wife. She has long since remarried, but says that she will still be happy to see him. So far, the Japanese government has not sent a jet to take him back to Tokyo nor have the banners been brought...
EXCISE TAX. The import tariff would be scrapped as soon as Congress approves excise taxes on oil and natural gas. Administration economists maintain that the energy companies are so flush with surplus oil nowadays that they would be forced to absorb some of the cost of the tax. Yet much of it would be passed on to customers, probably in the form of a rise of 5? per gal. or so in the retail prices of gas, heating oil and other petroleum products. An equivalent tax on natural gas would be about 50? per 1,000 cu. ft. Through...
...next five years. To pay the bill, the 137 nations outside the cartel would have to deliver one-quarter of their total exports to OPEC's elite 13 countries. It would be impossible for the oil importers to transfer so much of their production?or for OPEC nations to absorb it all. The most frightening figure for the future is that OPEC nations stand to accumulate payments surpluses of $250 billion to $325 billion by 1980, and the rest of the world would run up exactly that much of a deficit.* For the countries that have them, surpluses create huge...
Cutting Hair. The Finance Ministry estimates that annual oil revenues by 1981 will be roughly 2½ times what the economy can absorb. The government can spend some of its excess profits on social services. It can also reduce its steep income taxes (now ranging up to 90%). But University of Oslo Economist Erling Eide predicts that any reduction in taxation would lead to a severe inflation resulting from Norwegians' increased spending power. The only way to contain the inflation, Eide says, would be to revalue the krone to reduce the cost of foreign imports. Revaluation, though, would damage...
...adhered to a policy of "administering abundance with the mentality of scarcity." To avoid the inflationary consequences of plowing more money into the economy than it can safely absorb, Pérez has promised to channel $3 billion of this year's oil profits as well as 50% of all future oil revenues into the Venezuelan Investment...