Word: borrowers
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...also a historical and analytical work of impressive breadth and depth. Greider sees the past 100 years of U.S. financial history as a continuous battle between the holders of the wealth, including investors and bankers, and the people who borrow the money, such as farmers, businessmen and consumers. In his analysis, Greider takes a viewpoint that is heretical to Wall Street. Like the prairie Populists of the late 19th century, he argues that moderate inflation is beneficial to the common man. Economic growth is spurred by inflation as long as it does not get out of control. More important...
Today, for instance, not a single English 13th century wooden crucifix figure survives in England; to find a probable example, the organizers of this show had to borrow an exquisite polychrome Christ from Norway, where it had been made by a traveling English artist for a church in Bergen around 1230-45. Just as in the greatest monuments of English Gothic today -- the Lady Chapel of Ely Cathedral, say -- one sees only the bare background of a decorative and sculptural scheme whose figural richness can never be restored or even reimagined, so the remains of medieval sculpture that have been...
...some experts remain gloomy. "The recession is here. It arrived Oct. 20, one day after the sharp plunge in world stock values," says Vincent Malanga, a Manhattan economic consultant. "That kind of market decline is bound to have an adverse effect on consumer confidence. People will borrow less, spend less and save more...
...most mutual-fund companies could not take full advantage of those opportunities. Many exhausted their cash reserves and had to sell stocks or borrow from banks to meet redemptions. Even so, no companies were mortally wounded. Diversification helped large firms like Fidelity, which has 4.7 million accounts in more than 100 different funds. Some 98% of the customers who cashed in shares of Fidelity stock funds merely transferred the money into the company's other funds, including money-market accounts...
...federal loans to students--totalling $5.6 billion--is going unpaid. By the end of the decade, annual government payments on defaulted loans will increase 10 times, from $209 million in 1978 to $2 billion. Bennett is right on the money in calling for a crackdown on students who borrow and don't repay...