Word: borrower
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Dates: during 1970-1979
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Once the spiral starts, it develops a self-accelerating momentum. Union members, dismayed by the extent to which inflation eats away their pay gains, clamor for ever fatter wage increases. Businessmen borrow with abandon to build bigger inventories and more factories than they need, figuring that everything will cost more tomorrow. When this "inflationary psychology" takes hold, only drastic action can break...
...film, we simply gave them a roll of dud film which we couldn't use anyway. Every time we asked for the film, they said they would definitely return it the following day, but in fact they had sent it down to Athens for inspection. They even asked to borrow the book we were using-a 1913 edition, now out of print, of The Nomads of the Balkans -promising to return it the next day, but they sent it down to Athens for some American-paid intelligence bureaucrat to examine...
...recent performance would hardly seem to recommend Fannie Mae as an investment. Net income for the six months ended in June fell to 24? a share, compared with $1.87 a year earlier. The corporation borrows by selling notes, debentures and bonds to big institutional investors, then uses the funds to buy mortgages from mortgage firms across the U.S. Its profits come from the difference between the interest that it pays to borrow and the income that it collects from mortgages and fees. Lately that difference has been precariously small. According to its latest figures, at the end of September...
...teetered on the verge of insolvency. But by the mid-19308, he had pioneered a financing technique that is now standard in the shipping business. Before buying or building a ship, Ludwig would arrange for a client to charter it for up to 20 years. He would then borrow the entire cost of the ship, and repay the loan, plus interest, out of the charter fees. The result: a fleet purchased with other people's money...
...Peterson's report suggests several long-term solutions to the scholarship problem. One that has been suggested elsewhere would allow students to borrow all the money they need from their university or the government, then repay the loan as a percentage of their income for the rest of their lives...