Word: borrows
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Dates: during 1950-1959
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This economic muscle-flexing in Britain and West Germany was no signal that the two countries' economic troubles are over. British businessmen can borrow money at rates considered normal, i.e., about 4% or 5%. But in West Germany the demand for reconstruction capital still so far outruns the supply that business must frequently pay as much as 8% or 10% in interest. Moreover, both countries still need U.S. economic help to keep their books in balance. But in view of dwindling U.S. aid, international bankers took heart last week at the growing signs of British and West German strength...
Murchison has built his empire on credit. He now owes millions and is considered vulnerable by some Texans, who think that he is already spread too thin. Murchison thinks not, as long as he is able to borrow more against his oil reserves and other holdings. Says he: "Cash makes a man careless." Both he and Richardson pride themselves on the fortunes they owe. "Murchison," Richardson once said, "I'm a bigger success than you are. Some of my paper is held in London." When Murchison once decided to get out of debt, Richardson talked...
Money in the Ground. As the Depression wore on and war approached, Murchison saw inflation coming, sank every cent he had or could borrow into the ground. He worked out a variation of the reversionary interest, applied it to the oil business and made more millions. His trick: to lure buyers, he would sell oil property cheap, with the agreement that after the property had paid off the purchase price plus interest, a half-share in all production would revert to Murchison...
...Republican National Committee. Insofar as the publication of the Cohn-Schine charges were the turning point in McCarthy's national popularity, they too, it turns out, were the result of a deliberate decision by the White House. It is impossible to view this string of events without concluding, to borrow a favorite expression from Red-hunters themselves, that they were "all part of a planned pattern of operations, delibrately calculated" to break the Senator from Wisconsin...
...Finland, $36 million, to build up agriculture and industry. Finland will soon be back to borrow more-this time 40 million German marks...