Word: bonde
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Dates: during 1970-1979
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...awareness/consciousness movement. Packing picnic lunches and pillows, the moderately young, mostly white enthusiasts now relishing Erhard, with murmurs of "Beautiful" and "Fabulous," have been here since morning, absorbing with similar murmurs such gurus as Wayne (Your Erroneous Zones) Dyer, Arnold (Pumping Iron) Schwarzenegger, Masters and (The Pleasure Bond) Johnson. This, in short, is the self-styled "The Event, the First Awareness Extravaganza"-proof positive that the national binge of self-discovery that rolled up out of the 1960s, far from fading away, is alive and hyping...
Speculators have trouble getting hold of riyals. Some branches of European and American banks in Bahrain have attempted to float bond issues denominated in riyals in Europe. They got a stern bawling out from the Saudis for not asking permission to launch what the Saudis feared might be the beginning of a perilously unstable Euroriyal market...
...share prices with record speed; the Dow Jones industrial average jumped 35 points Wednesday, its largest one-day rise in history. On the commodity markets, prices for future delivery of cattle, soybeans and cotton briefly fell, partly in the expectation that inflation really would slow down. Oddest of all, bond prices rose sharply, and long-term interest rates actually fell. Apparent reason: a dollar recovery and less inflation might bring interest rates down in the long run, however high the Federal Reserve may jack them up over the next few months...
Some of the euphoria clearly passed the bounds of logic, and by week's end a reaction was setting in. Though the dollar continued gaining abroad, stock and bond prices fell back somewhat. The drop indicated that realism was replacing mere enthusiasm. Carter's new program is welcome because it is far better for Government to face up to its difficulties than to continue temporizing. But the fact that the Administration and the Federal Reserve felt such drastic steps to be necessary indicates how seriously the economic situation had been deteriorating...
...pressing problem: a shortage of money. According to some estimates, Cleveland is running a $16.5 million deficit and may have to default on $15 million in short-term notes that come due next month. One way out, says Finance Director Joseph Tegreene, 25, is to float a $50 million bond issue in December. But the city's credit rating is as low as New York City's was during its 1975 financial crisis...