Word: credited
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Dates: during 1970-1979
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...determines the pace of money growth and interest rates. The 17 members, seated around a 30-ft. mahogany table in the room where some of the most secret plans of World War II were drawn up, faced an exquisitely difficult choice. They had to decide whether to further tighten credit and raise interest rates, thus taking the risk of tipping the nation into recession, or to maintain rates at their present levels, which might worsen inflation. Their deliberations will be kept secret for a month, but early signs are that the committee, which has been closely divided on the issue...
...addition, Americans are using many sources of credit over which the Federal Reserve has little direct control. Sears, Roebuck and other retail chains are pushing instant credit, as are finance companies, credit unions and similar "near banks." Moreover, bank depositors can lay their hands on credit and cash around the clock by sticking plastic cards into street-corner automated teller machines. Says Finn Caspersen, chairman of Beneficial Corp., which charges up to 20% interest on personal loans: "The consumer is borrowing today's dollar to get today's goods and is paying back with tomorrow's inflated dollars...
...Miller notes, consumer spending, the key propellant in the economic expansion, seems to be waning. Americans are up to their credit cards in debt, with installment and mortgage payments taking 23% of their disposable income, up a full three points since 1975. At the same time, soaring prices for food and energy are eating into paychecks and limiting consumer ability to repay loans and make other purchases...
...plenty of activists who see nonpolluting solar energy as the benign antidote to nuclear power. It also has a generous law-put through by Governor Jerry Brown?that allows 55% of solar costs, up to a maximum of $3,000, to be written off as a credit against state income taxes. The resulting demand has persuaded more than half of America's solar manufacturers, including Arco Solar, the well-bankrolled subsidiary of Atlantic Richfield, to locate their headquarters in the state...
...subject Zappa has always handled most masterfully is mass America: crass commercialism, media hype, and the other things that numb our minds. From his songs of 1965 "Who Are the Brain Police?", to his more recent commemoration of television "I Am the Slime," Zappa has to his credit rock's choicest statements on mass euthanasia (though admittedly, because their babies are treatin' them bad, other songwriters rarely address such topics). Zappa's critical eye looked beyond the government and Vietnam to the covert "moral faseism" of American society. While others lambast politicians and corporate honchos, he criticizes everything and everyone...