Word: boom
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Dates: during 1950-1959
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...Brazil cleared up the last of its $425 million U.S. commercial-debt backlog as Finance Minister Oswaldo Aranha's policy of ruthlessly cutting imports-powerfully aided by the coffee boom and a $300 million U.S. Export-Import Bank loan-began to pay off fast. Aranha also struck a deal to settle Brazil's ?54 million arrears to Britain. Terms: ?10 million to be paid at once, the balance in annual payments of at least ?6 million...
...result of the continuing boom on boom was that money started to run short, credit tightened, and interest rates rose. Treasury Secretary George Humphrey chose this occasion to float a new $2 billion bond issue with the highest rate (3¼%) that any U.S. bond had carried in 20 years. With this formal notification that the "easy money" policy of the Democratic Administration was ending, the money shortage worsened; three-to five-year Government security rates rose from 2.6% to 2.9%. As credit tightened throughout the economy, builders complained about the new shortage of mortgage money, retailers warned darkly...
Back-Alley Boom. The profusion of low-priced local goods displayed in the multicolored stalls was the most hopeful answer yet to Hong Kong's evil spirit-Red China, which is only a few miles away. The United Nations' embargo on trade with China has piled up goods in Hong Kong traders' godowns for want of customers. Exports since 1951 have fallen from 4.4 billion Hong Kong dollars (5.85 to the U.S. dollar) to 2.7 billion, well under the colony's 3.9 billion in imports, chiefly food. Thus the biggest hope for Hong Kong...
When will the boom end? Probably not for a long time; at the last count, only a fraction of 1% of the available office space was unoccupied. But people who remember Frank Lloyd Wright's prophecy that cities will die and grass grow in the streets are worried about the new office buildings choking the midtown area. Grass may never grow on the streets, but it may some day grow on the roofs of the cars caught in the daily 5 o'clock traffic...
...main trends of the year, non-fiction outsold fiction, children's books had a boom (notwithstanding their dully predictable tendency to preach good behavior in barnyard parables), and a lot of good reading continued to turn up more or less unheralded. Finally, for the second year in a row, the Revised Standard Version of the Bible sold more than 1,000,000 copies, to lead all other current books...