Word: carding
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Dates: during 1970-1979
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...henchman" and "even more sinister and dangerous than Liu." Pamphlets and wall posters claimed that Teng's consuming bourgeois passions were mah-jongg and bridge. While supposedly on inspection tours, it was charged, Teng was traveling around the country on specially chartered trains and planes with his card-playing cronies...
...ground-to-ground missiles, is an effective deterrent for the present. Meanwhile, State Department experts were debating some of the options that Taiwan might now take. At an emergency meeting of the Nationalists' Central Committee last week one member even raised the prospect of playing a "Russia card" in answer to America's "China card"-meaning Taiwan would seek ties with the U.S.S.R. This suggestion was flatly rejected. Washington, actually, was worried about a grimmer prospect. Taiwan has a host of talented scientists and an accelerated nuclear reactor program; predictions were that it could produce an atomic bomb...
Some time during this Christmas season, a father selecting a suit for his son or a sugar daddy eying a bauble for his woman friend will pull out a plastic credit card to pay for it, and the U.S. consumer will be $1 trillion in debt. Figuring that in an inflationary period the wise person borrows while the fool saves, the consumer has been piling on debt at a quickening rate, buying new houses, new toys and just about everything else. Private debt now averages more than $4,600 for each man, woman and child...
Consumer debt, the kind that results from credit-card purchases, installment buying and other small loans, has jumped since 1975, from $197 billion to $289 billion. Moreover, mortgage debt in the same period has risen from $479 billion to $701 billion because home prices have increased fast and people figure that houses are a good investment...
What makes the present load bearable for the borrower is the lengthening of the repayment schedules for installment loans. Auto loans that used to run for three years can now be stretched to four or even five. Some credit-card repayments can be drawn out indefinitely for anyone who is willing to pay an annual finance charge...