Word: buildings
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Dates: during 1970-1979
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...borrowing by households is also at a record high. Borrowing by Government to finance budget deficits adds to the demand. Alan Greenspan, a member of TIME'S Board of Economists, singles out mortgage credit as "a monster loose in the system," devouring money. People are not only borrowing to build new houses but taking out second mortgages on existing homes to finance spending of various types. During the 1960s, Greenspan observes, a one-year rise of $15 billion in mortgage credit was considered large; in the past year the increase has been a staggering $100 billion...
...tight-money policy as long as may be necessary to reduce inflation, which could be several years. Meanwhile, higher interest?New York's Citibank led the parade last week by increasing its prime rate to a numbing 10.75%?will raise the cost of borrowing by businessmen to build factories or buy machinery and by consumers to finance new homes, cars or college educations...
...adviser: "The foreign exchange speculators got their way. We are going to build fewer houses and buy fewer cars in order to defend the dollar...
...British gave an eminently practical birthday present: money. Westminster, which has ruled the island since 1805, signed over $20 million, half of that a no-strings grant, the other half an interest-free loan. Next in line were the French, who vowed to build a sports stadium, a jetport and a better road connecting the capital of Roseau (pop. 20,000) with the island's sole landing field, 36 jolting miles away. The U.S. anted up 250 reference volumes for the national library...
When officials of the U.S. Immigration and Naturalization Service decided to build two new stretches of wall, totaling 12.5 miles, along the 1,950-mile Mexican border, they thought they were merely mending fences, not wrecking U.S.-Mexican relations. After all, the reason an estimated 1 million Mexicans enter the U.S. illegally each year is that most existing fences have been knocked down, shot full of holes or simply hauled away. Indeed, the new barriers might have gone up unnoticed had not the builders boasted that "anyone barefoot" seeking to climb over the razor-sharp wall would "leave...