Word: borrowings
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Dates: during 1980-1989
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...said Mike Kubicek, executive director of the state's wheat commission. "He can't produce it for $6, sell it for $3 and say he's had a wonderful crop. He's going to have to bite the bullet for the third straight year and borrow again against the equity in his land...
...borrow, that is. Interest rates now hover around 17%, and many simply cannot afford to take out another loan. American farmers were $200 billion in debt this spring, which is more than twice as much red ink as in 1975. Younger farmers, as well as farmers who borrowed heavily over the past decade to expand their operations, have been especially hard hit by high rates. Farmlands, which once served as attractive loan collateral, are falling in value, and thus many commercial banks no longer view farmers as worthy risks. In the past ten years, commercial bank participation in farm debt...
...told, it was another rough week for the already battered U.S. economy. Even as the prime interest rate was inching down toward 15%, the Treasury Department announced that it would need to borrow nearly $100 billion in the last half of 1982, an escalation it had not foreseen only three months ago. That competition for limited available capital is likely to keep interest rates high. The latest economic indicators, which for two straight months had pointed toward a possible recovery, turned ominously flat. Worse yet, the painfully constructed underpinnings of Ronald Reagan's fragile 1983 bipartisan budget deal were...
Labor Department officials argue that the states are partly to blame for their troubles, since some of the biggest borrowers pay the highest benefits. Ohio, for example, pays $233 per week to a displaced worker with four dependents, which is one of the most generous benefits in the country. By contrast, neighboring Indiana, racked by 11.4% unemployment, pays $141 for the same size family, and has never had to borrow from the federal fund...
...outside capital to help restore its foreign exchange reserves, which have fallen to critically low levels. Last year the high cost of energy imports was mainly responsible for nearly a one-third drop in India's hard-currency holdings. As a result, New Delhi was forced to borrow $5.7 billion from the International Monetary Fund...