Word: borrower
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Dates: during 1970-1979
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Much as Benjamin Franklin might have abhorred the idea, debt has become the 20th century American way of life. The entire U.S. financial system is elaborately geared to keep money moving in vast quantities from lenders to borrowers. Nearly everyone operates on the almost unconscious assumption that there is plenty of money available to borrow at interest rates he can afford: businessmen who launch, expand or modernize enterprises; public officials who schedule the building of roads, schools, parks; consumers who plan purchases of houses, cars, even college educations. Yet in recent months that comforting belief has been shaken...
...gone far to dim two parts of the American dream: young couples with skimpy savings are finding it all but impossible to buy a" home, and would-be entrepreneurs are unable to get the credit they need to start businesses of their own. Small businesses generally are having trouble borrowing to expand or in some cases even keep going. Most big businesses can still get credit-indeed, their excessive borrowing is a major cause of the present squeeze. But electric-power companies, which must regularly go to the bond market to borrow the funds required to expand and maintain their...
...says Robert F. Tighe, partner in Bear, Stearns & Co., is that the credit markets "have to finance inflation." As other prices rise, lenders insist on higher interest yields. They are getting them too, because business-loan demand has exploded despite a weak first quarter. Many corporations are rushing to borrow to pay the soaring costs of buying raw materials and other inventories. Some companies are also borrowing money now that they will need later; they fear that the Government will eventually move to a sterner anti-inflation policy that will create a credit shortage. In the week ending April...
Another indication of the Federal Reserve's stiffening attitude is the rising rate for federal funds-money that banks borrow briefly from one another when they overlend to their customers. The interest rate on this money, which the Federal Reserve strongly influences, has leapt from 8.8% in late February to more than 10% today. Federal Reserve Chairman Arthur Burns recently explained: "We at the Federal Reserve are determined to follow a course of monetary policy that will permit only moderate growth of money and credit...
...makes it a point not to read criticism written about his movies. It's hard to really fault him for it though; for even a cursory sampling of film criticism written in the U.S. today reveals the extent of polarization between critics and artists. Strick is simply recognizing, to borrow a well-worn academic concept, that there is little or no "constructive" criticism being written. Why should a director read his critics, unless he's hoping for an ego boost? There's nothing to be learned...