Word: auge
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Dates: during 1970-1979
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...delegates cannot merely patch up the Bretton Woods system of fixed prices for every currency, based on a fixed relationship between the dollar and gold. President Nixon shattered that illusion on Aug. 15, when he announced that the U.S. would stop selling gold to redeem foreign-held dollars. The "Nixon Shock" has already moved moneymen into discussions that would have sounded like sheer fantasy a few months ago. American officials who once proclaimed the majesty of the dollar now cheer declines in its price on newly freed money markets, because they hold the potential for helping the U.S. balance...
...dead? He is believed to have an advanced case of Parkinson's disease, and was last seen in public on Aug. 7. But Mao's death had been falsely reported so many times in the past that China watchers were understandably leary of once again speculating about his health. Besides, the Peking Foreign Ministry publicly insisted that the Chairman is "alive and well," and Mao's wife, Chiang Ching, had been seen smiling and apparently unperturbed at a banquet a week after the crisis began...
...Your article on the Federal Building in Buffalo [Aug. 30] may be factual in part, but trying to read sinister meanings into the notice tacked on to the bulletin board by the "job coordinator" borders on the ridiculous...
...August fell .8% to its lowest point this year -105.1% of the 1967 base. Much of the decline reflected a lag in steel orders caused by stockpiling during the industry's contract negotiations earlier this year. The production figure probably was not influenced by the President's Aug. 15 speech at all, but another key indicator-which should have been-may also be lagging. The Conference Board, a research group supported by major corporations, reported that consumer confidence has shown no dramatic improvement as a result of the Nixon program...
...price of the equipment. From the second year on, the credit would drop to 5%. Treasury officials estimate that the credit would slice $3 billion from corporate taxes during the first fiscal year, $4 billion the second, and somewhat less thereafter. Investors who buy machinery before next Aug. 14 will be able to claim the higher credit for goods delivered six months beyond that date. This accommodation will cause a bulge in 10% claims in fiscal 1973, which starts next July 1. In a form of self-defeating protectionism, however, the new measure would apply only to U.S.-made goods...