Word: chronic
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...been set back by the Russian invasion of Czechoslovakia. As a new Administration prepares to take power, Americans are questioning for the first time in a generation their basic role in the world community. Though the signs of plenty abound throughout the Western world, the chronic international money crisis threatens to produce political as well as fiscal instability for millions (see THE WORLD...
...toast of Paris, where he was known as le beau Charles. Summoned to Boston to replace the old autocrat Serge Koussevitzky, the stately conductor earned the admiration of his musicians for his easy, gracious manners; Bostonians responded to his sense of drama and his flair for improvisation. A chronic under-rehearser who rarely directed any piece the same way twice, Munch was happiest with the music of the 19th century French Romantics, to which he brought a poetic vibrance of color and texture. Last year French Cultural Minister André Malraux hired him out of retirement to lead the newly...
Nixon faces problems too when it comes to dealing with the chronic balance-of-payments deficits. During the campaign, he promised to end President Johnson's mandatory controls on foreign investment "as soon as possible." That raised the specter of a precipitate outpouring of investment funds abroad and prompted Treasury Under Secretary Frederick L. Deming, a key member of L.B.J.'s economic team, to call the proposal "the height of irresponsibility." By the same token, supporters of the Johnson Administration's free-trade policies have been concerned about intimations by Nixon's aides that...
...rules also reflected pressure from Britain's foreign creditors. In return for a $4.9 billion line of credit, without which Britain would be bankrupt, other nations have insisted that the country overcome its chronic habit of living beyond its means. Lately, under prodding from abroad, the British have been pondering whether to rely more on controlling the money supply to regulate the pace of business. During the second quarter of this year, the amount of money in circulation rose at the inflationary rate of 10% a year. Many economists now contend that this was an underlying cause...
...businessmen and farmers have sold enough goods overseas to take in more money than the nation has paid for its im ports. That trade surplus has long been the foundation of U.S. global economic power. Over the past two decades, it has amounted to $79 billion, greatly diminishing the chronic balance of pay ments deficits caused by foreign aid and investment, overseas tourist traffic and military spending...