Word: credited
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Dates: during 1970-1979
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...Much credit for bringing the Patriotic Front back to the conference table went to leaders of the front-line African states (Tanzania, Zambia, Mozambique, Botswana and Angola), which provide crucial support to the guerrillas. Staggering under severe economic pressures, these countries have been urging their Patriotic Front wards to negotiate a settlement of the costly seven-year war. Frontline leaders were shocked by Carrington's strong-handed tactics and feared that the success of the talks was being "jeopardized" by a mere technicality. Tanzanian President Julius Nyerere, a key sponsor of the Lancaster House talks, invited the other front...
...push up interest rates to new highs and announce new measures to curb the inflationary growth of the nation's money sup ply. But the money stock actually expanded by $2.8 billion in the first week after the "Volcker Package" was announced, and the Fed immediately began tightening credit and forcing up interest rates still further. This drove the Dow Jones index of industrial stocks down an extra 24 points last week, renewing memories of the Great Crash that occurred 50 years ago this month (see following story...
Already the cost of money for almost all purposes is soaring. Federal Home Loan Bank Board Chairman Jay Janis predicts that mortgage rates, which now average 11.5% nationwide, could reach 14% by January. Meanwhile, the ability of consumers to pay for costlier credit, oil and everything else is rapidly declining. Washington Economic Consultant Michael Evans calculates that inflation and the rising tax bite have reduced the spendable income of a family of four earning $20,000 annually by $1,000 so far this year. If consumers suddenly begin closing up their wallets and pocketbooks, as they are expected to, inventories...
Signs of impending disaster had appeared all through 1928 and 1929. The speculative fever of the Roaring Twenties had infected rich and poor alike, and vast numbers of people were dangerously overextended. Credit was absurdly easy to obtain, and most brokerages required only 10% cash for stocks bought on "margin...
...Senate has approved a tax credit of up to $300 for the purchase of conservation devices that will go into effect next year; the bill's scope should also be expanded to subsidize conservation for people who can't afford to invest any money in such efforts. There should also clearly be a major effort to direct public on-the-job training and employment programs towards the nation's energy needs. In addition, we must encourage a new emphasis on community-based conservation efforts already in place in scattered locales. In Fitchburg, Massachusetts, the town's leaers have united around...