Word: borrowings
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Dates: during 1970-1979
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After the market closed for the day on May 5 the Federal Reserve reduced margin requirement for buying stock from 80 per cent to 65 per cent. Since investors now need less cash (they borrow the 35 per cent from the broker) more stock can be bought with less money, and the market should have gone...
...weighted down with an outmoded Marxism, is relentlessly conventional and conformist. The same phrases -"up against the wall," "get the pigs," "tell it like it is" -are endlessly repeated, less for their intrinsic eloquence than for their emotive and symbolic value. And that sort of thing gets tiresome; to borrow from the jargon, it "turns people off." Even the most outrageous obscenities lose their impact when they are used ad nauseam...
...FOMC voted to pay somewhat more attention than previously to what its policies were doing to the actual supply of money. That step had long been urged by Economist Milton Friedman who believes that the availability of money, rather than its cost, determines how much businessmen and consumers borrow and spend. At the same meeting, the FOMC voted to end what Wall Streeters called the "Ice Age"-the last seven months of 1969, during which money supply did not grow at all-and begin a modest expansion...
...species of economic black humor has developed. Bankers who invite businessmen to lunch tell them that the free meal is all the help that their bank can give in 1970. One banker cheerily explains the meaning of the recent prime-rate cut: the money that business once could not borrow at 8½ is now unavailable at 8%. Portland brokers have started a betting pool on which firm will go bankrupt first-and when...
These numbers are not from prototype engineering cars. Those numbers are from cars now in the hands of the public. We borrow them, run tests on them, and give them back to the public...