Word: buying
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Dates: during 1970-1979
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Your "Greenbacks Under the Gun" [Aug. 28] was almost a true account of our disastrous situation. Your list of things the U.S. "could do" is an exercise in futility. Buy up dollars aggressively with what? More I.O.U.s? More Treasury debt certificates? Freshly printed greenbacks? Sell our gold? What will that do but ruin the price of gold without even touching our foreign and domestic deficits? Sure, sell at the market and we could pay the foreign deficits for a couple of years, and then what? What pol would vote to raise interest rates far enough to put us into...
...spends all morning on a single entry, other times she does noth ing for a week. Her husband Bill, a retired quality-control inspector whom she married in 1937, works continuously too, driving to the post office to mail entries (she won't risk the mail box) and buy stamps. He scouts around for precious entry blanks, but higher postal costs have forced Mrs. Haley to cut back on the number of entries she sends...
Even some sympathizers think labor will never buy his plan, and so last year Arthur Okun, a member of TIME'S Board of Economists, proposed a variant: cuts in income taxes for both companies and their workers if wage increases are held to 6% and price boosts to 4%. Proxmire's bill would authorize the Administration to try either type...
...Wallich, a Republican professor of economics whose pin-striped blue suits and slow, heavily technical speech make him seem the embodiment of fiscal traditionalism. But as a child in Berlin he lived through the insane German inflation of 1923-24. Once his mother gave him 105 billion marks to buy a ticket to a swimming pool that had cost 15 pfennig to enter not long before. But she miscalculated; by the time Wallich got to the pool, the price had risen to 150 billion marks, and he could not get in. Today at 64 Wallich regards inflation as not just...
...from Time who was repaying a favor to a friend on Paris-Match. He said he hoped they wouldn't credit him. The A.P. photographer was snapping away, grumbling. "I'd rather be out coverin' civil rights marches, shit. Or a convention--them Kennedy people taught me how to buy a convention. Nineteen-sixty, there I was, lil' country boy from Dothan, Alabama, coverin' Johnson, shit, they'd paid off everybody. Paid off the goddam elevator boys. If you was with Johnson, you couldn't get an elevator for 25 minutes." Click click click. "Shit, this is weird...