Word: borrowing
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Dates: during 1980-1989
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...time when France's economic growth rate was among the world's fastest, the Paris stock exchange remained as flat as a French crêpe. During the autocratic presidency of Charles de Gaulle from 1958 to 1969, companies were, in effect, forced to borrow from the government-dominated banks rather than raise capital on the stock market. Referring to the Bourse's principal trading circle by nickname, De Gaulle declared icily: "France's policy is not made in the Basket." Stockbroker Antoine Durant des Aulnois recalls that being a dealer during the Gaullist...
...poor will hardly understand the need for them to sacrifice the programs that keep them above the poverty line when they see their government spend $60 billion on a giant shell-game for its missiles. Families will miss the logic of why they have to earn less and borrow nothing as the only cure for aching inflation, when they realize this policy aims to placate only the business community, lately the biggest beneficiary of the federal government. The unemployed will miss the point of an economic policy that deliberately deprives them of jobs for the sake of the few tenths...
...begun using refined products--like kerosene--for cooking and heating. When the price of oil rose, therefore, the Third World could not cut down on its consumption. At the same time, it lacked the money to pay the higher prices. Poor nations had no choice: they had to borrow oil money from Western banks...
...with other deductions, Lucas came out with somewhere between $22 million and $26 million for himself. When the IRS left, that was reduced to $12 million. That is still a lot of money, but Lucas used just about all of it as collateral to borrow the $22 million ultimately needed to make The Empire. He says he kept only $50,000 or so for his own living expenses. "The truth of it is that I'm very overextended right...
Gloomy businessmen are now bracing for an economic downturn as deep as any in the postwar period. They consequently see no need to borrow funds at the still relatively high rates so as to expand capacity or hire new workers. General Electric Chairman Reginald Jones predicts that the prime rate will sink to 12% or 13% before investment picks up. Explains Gilbert Heebner, chief economist at the Philadelphia National Bank: "It was like 20% was some magic threshold. Borrowers simply stopped borrowing. Even small independent businessmen like farmers chose to liquidate their crops rather than borrow money...