Word: borrower
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Dates: during 1960-1969
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...betting on a credit crisis. Already, the mere prospect has helped to depress the stock market (see following story), lift some interest rates to 46-year peaks and cause bond prices to plummet. On top of voracious corporate demand for funds, the federal deficit has forced the Treasury to borrow $16 billion since midyear (apart from replacement of maturing issues). The Government had to pay 5¼% interest for some of that money last month, its highest rate since June, 1921. Last week a 3%, $1,000 Treasury bond that was first issued in 1955 traded at $750 (although...
Without a surtax, Washington maintains that it will be forced to borrow as much as $22 billion in the bond market next year to finance the federal deficit. And economists in and out of the Government agree that there will be too little money to meet the demands of private borrowers as well. While the Federal Government and the country's bigger corporations will snare what they need, bond experts figure that housing, auto finance, small businesses and state and local governments will be starved for funds. This year, the Federal Reserve Board's policy of monetary ease...
What makes the final product so fresh and captivating is the skill with which Bearden employs his polyglot artistic heritage. His jigsaw Afro-American faces borrow their cubistic profiles from Picasso; yet, as Bearden says, Picasso in turn was inspired by African masks. Bearden also cadges tricks from Bosch, Brueghel and the neo-Dadaists, pasting a tiny sun in a woman's eye as she greets her returning juvenile-delinquent son (pun intended) in The Return of the Prodigal Son. All this intermingling has the effect of broadening his pictures from the specific into the universal. It takes...
...only half of its 50 bombed-out bombers and almost none of its heavy guns. Russia, moreover, has long since stopped its emergency postwar airlift of weapons to Cairo. The Syrians, whom Moscow distrusts, have received even fewer offensive arms. Jordan has so far been unable to beg or borrow a single weapon for its hard-hit army, and its air force, destroyed during the war, is still without a single plane...
There is even a bad-boy-making-good angle to Nadav's story. In his youth, he was wild and unpopular. He would borrow kibbutz tractors and take joy-rides into the fields--a dangerous past-time with Syrian snipers in the hills and both the Lebanese and Syrian borders nearby. And few of his age-group respected him, despite his obvious ability. Rooms would fall quiet and slowly empty when he entered...