Word: borrowers
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Dates: during 1990-1999
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Rickenbacker used to be a hotel bookkeeper, dreaming of what life would be like without a boss. Her break came when she was able to borrow $500 to buy a powerful new sewing machine and become a professional seamstress. Having repaid the loan after one year, she is thinking about expanding her operation...
...still the possibility that Saddam will get smart, leave Kuwait and go about increasing his powers of intimidation by completing his nuclear weapons program. If he doesn't see a need to withdraw to the status quo ante -- and there is no sign yet that he "gets it," to borrow the phrase in vogue in the White House -- it appears that much of the world is headed toward war against the man George Bush once again last week called "Hitler revisited...
...problem is that the U.S. Government stands behind these institutions like a pillar of Jell-O, since it is already committed to an S&L bailout that could cost $1 trillion and owes a national debt of $3 trillion. If more bailouts are needed, the U.S. would have to borrow so much money from the credit markets that interest rates would be pushed upward in the midst of a recession, which would make conditions even worse. "We are skating on what may seem to be firm ice," says Harvard political economist Robert Reich. "But it is thinning rapidly...
...seriously affected nations, Bangladesh, officials estimate that the gulf crisis will cost the impoverished country $220 million a year in higher oil prices and $100 million in lost remittances from Bangladeshi workers who have fled Kuwait and Iraq. The Philippines, which imports almost all its oil, will have to borrow heavily to keep its factories running and prevent unemployment from soaring above the present rate of 12.6%. Deepening Third World troubles will affect the U.S., which counts on the countries to buy American goods...
...acceding to Bush's public demands. But the alliance's true objective has moved beyond restoring the status quo ante to the destruction of Iraq's nuclear, chemical and biological warfare capacities, a goal almost no one believes can be achieved through negotiation. Hence "the logic of war," to borrow Francois Mitterrand's phrase...