Word: bonde
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Dates: during 1970-1979
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Until it becomes economically feasible to encourage more saving, Government will need to refrain from discouraging private borrowers by crowding them out of the money market with ever larger Treasury bond offerings. So far, the $59.9 billion deficit envisioned in the current federal budget has not proved difficult to finance. The danger of crowding out in the money market, and the real threat of a capital shortage, lies a year or so away, when the economy picks up added steam and corporations begin borrowing more heavily. But that is hardly a reason for postponing public debate over how to head...
...that could be a parable for Calvino's novel of parables. Eudoxia is a city seemingly without form, but whose true shape is preserved in a certain intricately woven carpet, just as Calvino's empire preserves some semblance of our own. According to an oracle, "questioned about the mysterious bond between two objects so dissimilar as the carpet and the city," one has a god-given form, and the other is "an approximate reflection, like every human creation...
Rewarding Strike. At last, Albany and the Big Apple threw together another financial arrangement: Governor Carey and Anderson compromised on an agreement to grant the city $330 million in new taxing powers-money to be raised mainly in the form of levies on bond sales, banks and corporate franchises, a painful step in a city where taxes are already higher per capita than anywhere else...
Popping a pop-rock cassette into the tape deck, Elton props his feet next to the television and watches the Bond Street shoppers through the tinted windows of his Rolls-Royce Phantom. "Turn here," he instructs the chauffeur, and as the burnished ark glides to a halt, Elton hikes his high-waisted green slacks and prepares to enter Cartier...
...yielded during all of last year. Though the 1975 rate is still far from 1972's record $13 billion pace, the strengthening of the equity market is an encouraging development that could add momentum to the economic recovery. Companies no longer need rely solely on bank borrowing and bond sales as the sources for expansion capital. This development in turn could help relieve the danger of a capital shortage...