Word: central
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Dates: during 1980-1989
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...praise be, he has made a liar of himself. There is a priest in the book. Wheat, in fact, is devoted entirely to Father Joe Hackett, who in the late 1960s arrives as the rector of the comfortable suburban parish of SS. Francis and Clare. And once again, the central dilemma is that however much a priest may try to look to the next world, he remains hopelessly, haplessly entangled in this...
...Buddhism, socialism and isolationism -- but instead allowed a potentially robust economy to drift on a joyless ride down a Burmese road to ruin. Once Asia's premier rice exporter and a country rich in oil, grain, gems and timber, Burma slipped into abject impoverishment, thanks to haphazard central planning, mismanagement and an unbending policy of self-sufficiency. While resources were devoted to a four-decade struggle with tribal guerrilla armies around the country, annual per capita income sank from $670 in 1960 to $190 in 1987, according to the World Bank. The United Nations lists Burma among the least-developed...
That became even clearer when he took the central seat in the Leonardoesque composition of a dozen or so lunchers around a long table. Early on, Bush tried to put himself at ease by telling the students, all brimming with horror stories they are encouraged to tell, "I don't want to talk about what you don't want to." This left the sandwich-room disciples speechless for a moment, each about to be deprived of some carefully prepared item of testimony. But so strong was their sense of mission that soon, despite Bush's signals of anxiety...
Last week Greenspan proved those critics dead wrong. In an effort to keep inflation at bay, the Fed raised its discount rate from 6% to 6.5%. That bellwether interest rate, which the central bank charges on loans to financial institutions, now stands at its highest level in two years. Says Robert Hormats, vice chairman of the Goldman Sachs International investment house: "The increase, announced just a week before the Republican Convention, puts to rest any doubt about Greenspan's independence...
Major banks followed the Fed's lead. By week's end the prime lending rate for business borrowers rose from 9.5% to 10%, a three-year high. The rate hike was poison for the stock market: the Dow Jones industrial average fell 73.26 points in two days after the central bank announcement and closed on Friday at 2037.52, down 81.61 for the week...