Word: borrower
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Dates: during 1960-1969
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...John F. Kennedy confronted the crisis that climaxed with the building of the Berlin Wall. When he ordered military readiness to demonstrate his determination to Khrushchev, the President was shocked to find that the Army was in a lower state than he had supposed. The Army repeatedly had to borrow equipment from one unit to fit out another. Reserve units called to duty found they had no weapons. Kennedy decided to get started on building up the Army: he called General Taylor from retirement, made him a military troubleshooter and later Chairman of the Joint Chiefs of Staff...
...tall, gangling youth with the Kaiser Wilhelm mustache was a model of self-discipline at the University of Freiburg. Limited to a small monthly allowance of $21, he was never known to squander or borrow a pfennig. At night, nodding over his law books, he would take off his shoes and socks, immerse his feet in a tub of cold water to stay awake. He never fought a duel, but he was no square. He pledged a fraternity, acquired the "Biername" (drinking nickname) of "Toni," and at frothy functions would bang his stein on an oak table in unison with...
Professional bears, they are usually big round-lot (100 shares or more) speculators who wager that the market will drop. They borrow stock through other brokers and sell it at, say, $10 a share, hoping to replace the borrowed shares later by buying them back at a lower price, perhaps $5. Their profit would thus be $5 a share. Anyone can sell short-Joseph P. Kennedy reportedly made a killing doing so in 1929-but it is a dangerous game, little suited to the fainthearted or the unsophisticated...
...unless we master our gold problems, they will master us." Last week, under pressure from European financial leaders who fear that the continuing gold drain could start a worldwide deflationary cycle by further undermining the dollar, the U.S. took three actions. It set higher interest rates on short-term borrowing, put indirect controls on longer-term exports of U.S. money, and surprisingly indicated a readiness to borrow from the International Monetary Fund, which the U.S. originally helped to set up at Bretton Woods in 1944 to bail out poorer foreign countries...
Farmers who lack capital, and the credit or imagination to borrow it, cannot make a U.S.-style living out of farming. What they put into farming is primarily their own labor, and farm labor is low-paid, averaging 84? an hour, less than one-third of factory wages. "When I'm on my tractor," says an Ohio corn-hog farmer with a $300,000 farm, "I'm worth no more than my hired hand...