Word: creation
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Dates: during 1970-1979
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Growth Stifled. But the creation of reserves is only the first step in expanding the money supply. Customers must actively borrow and make deposits if banks are to be able to turn their checking-account deposits into an expansion of credit several times as large. Yet this is not happening. When the economy tilted down steeply late last year, the nation's banks began to turn away would-be borrowers. At the same time, business-loan demand dropped sharply. By then the Federal Reserve was increasing bank reserves rapidly, but it was too late: banks swallowed the added liquidity...
...condemned their radical action, but his condemnation rang hollow. He had effected no prison reform since he came to office in 1959, and not until Attica did the state promise change. Of the 28 reforms the state agreed to in the process of bargaining at Attica only three--the creation of an ombudsman's office, a grievance procedure, and allowing political activity--were real changes. The rest were either hedged promises conditional on legislative action--modernizing inmate education and applying the minimum wage to inmate labor, for instance--or changes like allowing religious freedom that Wicker thought should have been...
...rationalization of the violability of the seventh commandment. It's not much else, but the sermons are supposed to get better as the month goes on. The second begins with an examination of some New Testament miracles and unfolds into an elegant defense of evil as "essential to a Creation of differentiated particulars." But again, he ends with apostasy, cursing his "docile suburban flock...
Sales of arms to the Third World have also grown simply because there are more customers than ever before. Since World War II, the creation of 75 new nations has meant the formation of a comparable number of new armies. Because military elites often play major roles in the early stages of the new states, their demands for more equipment can seldom be ignored. "No military branch wants to be saddled with old or obsolete equipment that reflects adversely on the dignity of the service," dryly notes a 1973 Rand Corp. study on the transfer of arms to Latin America...
...year-rounders, the winter means isolation, bad weather and hardship. The small towns that line the Outer Cape--Orleans, Eastham, Wellfleet, Truvo and Provincetown--depend economically almost exclusively on tourism. The creation of the National Seashore in 1961 insured the tourist trade during the summer by protecting the beaches and ponds of the Cape, but after Thanksgiving, few visitors are attracted; the motels, shops and restaurants close, and unemployment soars. In the winter, food stamps become a common sight in Wellfleet's First National supermarket and the number of welfare recipients and those on unemployment climbs...