Word: coppers
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...increase in the investment tax credit for new equipment. Capital investment in the U.S. has been slipping behind the rest of the industrialized world for several years. Dwindling production capacity has been a major contributor to the nation's inflationary shortages of semifinished industrial goods, including steel, copper and paper...
...just a few of the details of just one air drop, seen like a close-up of a Flemish tapestry: A paratrooper lands on a partridge and carries the dead bird with him: half talisman, half future meal. A British colonel calls his men to him with a copper hunting horn. Bagpipes play Blue Bonnets. The inmates of a bombed mental institution, clad in white robes, float through the surrounding woods like ghosts...
...boom began in mid-1972, when rapid business expansion round the world created a hunger for materials that could not be satisfied. The prices of such key metals as copper, zinc and lead, along with such fibers as cotton and rubber, doubled and in some cases tripled by late 1973. Then the energy crisis caused stock and currency values to wobble. Speculators fled from stock and foreign-exchange markets into the seeming safety of the rising commodities markets, bidding raw-materials prices up another...
...last spring, the prices had been pushed to levels that could not be sustained even in an inflationary world economy. As business slowed in many major countries, demand softened, material supplies caught up, and speculative prices cracked. On the London Metal Exchange, the price of copper had dropped 53% by last week, zinc prices had been halved, silver had slid 41% and lead 27%. Among nonmetals, cotton was down 34% from the spring peaks, and rubber...
Lack of Unity. To commodity-exporting nations, many of them underdeveloped, the price break has a far different significance. For Chile, a penny-a-pound decline in the price of copper means the loss of $11 million in potential export earnings; Zambia loses even more. The producer nations are now planning cartels, modeled after the Organization of the Petroleum Exporting Countries, to set and enforce minimum prices. Chile, Peru, Zaire and Zambia have tried to organize a copper cartel, and seven nations, including Australia, Guinea, Jamaica and Yugoslavia, recently formed the International Bauxite Association to prop up prices for that...