Word: borrowings
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Dates: during 1970-1979
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Among other things, the legislature had directed State Comptroller Arthur Levitt to invest $125 million from two state employees' pension funds in bonds is sued by the Municipal Assistance Corporation (Big Mac). In addition, the state was to try to borrow $750 million and then promptly lend it to Big Mac (TIME, Sept...
Gato has matured, to borrow from some of Nat Hentoff's album lining prose, and his stuff has gotten more vibrant, if less free in form over the years. He has, however, traded in the top jazz back-up men for some players who would do better accompanying Bruce Springsteen. Now Gato's in town, but before you go down to Paul's Mall to see him, consider this: the last time he was in Boston he played nothing but jazz/rock including cuts from his "Alive" album, which he recorded one week after his appearance here...
...OPEC states, notably Saudi Arabia and Kuwait, are still taking in more money than they can spend. But at least four member countries-Venezuela, Algeria, Iran and Iraq-are expected to have to borrow up to $2 billion in international money markets this year. Little more than a year ago, they were wallowing in surplus cash. A sampler of conditions in key producing states...
ALGERIA: The crimp in oil revenues is expected to force Algeria to borrow up to $1 billion abroad this year. Even so, its industrialization program is falling well behind schedule...
Critics also argue that the EIA would thrust heavy new demands into capital markets, either by borrowing or by having the Treasury borrow for it, thus crowding out private borrowers and fanning inflation by pushing up interest rates. Republican Banker Beryl Sprinkel, a member of TIME'S Board of Economists, adds that the Government should let the free market decide which energy-development projects are worth financing and which...