Word: creditably
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Dates: during 1950-1959
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...older nations the inflationary pattern varies. In Australia, also trying to expand too far too fast, prices have doubled since World War II, while wages have risen 160%. The government, in alarm, finally began to choke back on credit, raise taxes and cut down on public spending. Not even conservative, thrifty Denmark has escaped inflation. Denmark has a per capita income of $807, above average for Europe. Recently the Danes discovered that they were living too well. Lulled by the eager world market for their dairy products, bacon, beer, machinery and ships, they let wages, prices and production costs rise...
...Banker Wallenberg, one of the chief reasons undeveloped countries today cannot find the foreign capital once readily supplied is that the savings in the industrialized countries are too low for the need. With money short all over, they have had to tighten up on credit and interest rates to check inflation, bringing on a survival-of-the-fittest competition among borrowers. Therefore, "projects with relatively low earning power...
...great force for economic and social progress." To increase its effectiveness in helping underdeveloped nations, Meany suggested 1) an International Investment Code under which nations receiving private capital or governmental technical assistance would guarantee investors against arbitrary treatment; 2) a multi-billion-dollar International Consumers Credit Fund ito underwrite long-term installment purchasing of consumer goods...
...cause for alarm, nor did it see any reason to spur business by easing its tight money policy −at least for the moment. The Fed has helped to check inflation, said President Alfred Hayes of New York's Federal Reserve Bank, but it cannot risk relaxing credit restrictions while living costs continue "their seemingly inexorable rise." When the proper time comes, said Hayes, the Fed will "work the other side of the street." As for businessmen, General Electric President Ralph Cordiner reflected the feelings of many when he reminded the U.S. that it rests on an unparalleled economic...
...Hertz will buy (for cash) 19,737 autos, three-quarters of them from General Motors, also plans to buy another 11,000 after April 1 for $33.5 million more. To swing deal, Hertz will sell 15,000 of its 1957 cars for around $35 million, boost its revolving bank credit from $50 million to $65 million...