Word: billioned
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Dates: during 1960-1969
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...crunch" of 1966. This time, the Federal Reserve Board's policy of gradual "disinflation without deflation" has kept U.S. banks at some distance from anything like the 1966 crisis. Though forced to pay interest as high as 81%, the banks have been able to bring home some $2.4 billion in "Eurodollars"-or about one-fourth of the U.S. dollars on deposit in foreign branches of U.S. banks...
Demand for money is likely to remain very high indeed. For one thing, businessmen expect to spend some $73 billion, 14% more than last year, to expand their factories during 1969. "I am frankly disturbed by this evidence of how the collective decisions of investors may help to keep inflation growing," says Treasury Secretary David Kennedy. Because of the "multiplier effect" of capital outlays, each dollar of such investment adds about $2.50 to the total economy. The phenomenon worries Washington for two reasons: 1) it has an immediate inflationary effect, and 2) it could lead to industrial overcapacity followed...
...variety of interwoven reasons. The momentum of 96 consecutive months of economic expansion leaves most executives confident about 1969, despite all the talk of a slowdown. Last week the Commerce Department reported that factory orders for durable goods-an important indicator of future economic activity-rose by $1 billion in February to a record level of $31 billion. Even a small decline in auto assemblies last month did not prevent industrial production from setting a new record for the fourth month in a row. Recovering from a January slump, personal income increased $5.3 billion in February to a record annual...
...firms. Each visitor carries sheafs of bills and whispers the name of the executive-san concerned. They are paid, no questions asked. The Japanese executive has the world's most generous expense account for nocturnal diversions. A government survey found that in 1967, Japanese businessmen spent $1.4 billion on nontaxable "official entertainment." The 1,140 bars along Tokyo's Ginza depend on the free-spending businessman, who likes to do his entertaining away from wife and home. If it were not for the golden fringes, the main streets of Tokyo-and many other great cities-would be dull...
...into control of a string of businesses in such diverse fields as retailing and men's wear, building products and theaters. Now that conglomerates are running into all sorts of head winds, Riklis' own interest seems to be veering from making mergers to simply managing his $2 billion annual sales complex...