Word: cambodias
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...could explain away this bear market as response to anti-inflationary measures, but the stock exchange in the past has shown itself more an index of national feelings of optimism or depression than of value. Since the invasion of Cambodia market sages claim that the key to understanding the market is the war. And no one on Wall Street seems to believe the Administration on that subject any more-on May 12 a "Melvin Laird rally" of stock prices, spurred by his assurance that all ground forces would be out of Asia by June, 1971 lasted only a few hours...
...trouble financing and refinancing the accelerating national debt. Why? the Treasury sold a 3.5 billion dollar bond issue on May 5, the entire credit system almost collapsed. The cause went beyond a shortage of money caused by the Federal Reserve Board's anti-inflationary moves in April. Because of Cambodia, investors didn't want to touch the issue. The Federal Reserve had to buy much of it, thereby pumping money into the economy and accelerating inflation...
WITH an almost manic abruptness, the nation seemed, as Yeats once wrote, "all changed, changed utterly." With the killing of four Kent State University students by Ohio National Guardsmen last week, dissent against the U.S. venture into Cambodia suddenly coalesced into a nationwide student strike. Across the country 441 colleges and universities were affected, many of them shut down entirely. Antiwar fever, which President Richard Nixon had skillfully reduced to a tolerable level last fall, surged upward again to a point unequaled since Lyndon Johnson was driven from the White House. The military advantage to be gained in Cambodia seemed...
Perhaps, too, the spasms of protest will relax as summer disperses the students, as the troops come out of Cambodia and as the U.S. force levels in South Viet Nam continue to decline. Most Americans still want to believe in their President. Nonetheless, apprehension persists that the substance, if not the appearance, of leadership is absent from the White House. Says Correspondent Sidey: "The presidency as a positive force is a concept which has escaped Nixon. His Administration has an aura of negativism." For many citizens weary of tumult, negativism may be enough. But if last week showed anything...
...show that if he was not embittered by the protest movement, neither was he cowed. He also attempted to display flexibility. He was not about to muzzle anyone, he said, but he counseled his subordinates that "when the action is hot, keep the rhetoric cool." He defended the Cambodia decision anew, but he also added that the troops would be coming out faster than anticipated. While not withdrawing from his tactical rationale for the Cambodian venture, Nixon gave an impression that was very different from the belligerent patriotism with which he announced the foray...