Word: crediters
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Dates: during 1960-1969
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...Credit is, of course, at the very heart of capitalism: every capitalist society requires credit for expansion. What is new is the concept that not merely business but the individual consumer can "expand" by massively borrowing against future earnings. Inevitably, questions arise as to whether Americans are really steering a course between "profligacy and parsimony" or whether some accidents might be ahead...
Maloney will still get credit in the record book for pitching a ten-inning no-hitter. And he could take some solace from the fact that nine other pitchers have hurled nine-inning (or longer) no hitters and lost, including two still active in the major leagues: Baltimore's Harvey Haddix and Milwaukee's Ken Johnson. What's more, Cincinnati Owner Bill DeWitt announced that he was giving Maloney a $1,000 raise (to $31,000). It would take more than that to comfort him. "I haven't a thing to be proud of," he said...
Mundus also has a 3,500-lb. white to his credit (again harpooned), plus a hand in 15 rod-and-reel records that range from a 66-lb. porbeagle caught on 12-lb.-test line to a 683-lb. 12-oz. mako caught on 50-lb. test. To catch a shark, he says, first catch a whale...
Fiscal Threat. What really worries most economists far more than today's troubles in the free world's economies is tomorrow's threat from something central bankers call international liquidity-the amount of gold, key currencies and credit in circulation to finance the world's trade. Reason: U.S. and British moves to end their balance-of-payments problems are likely to have the side effect of so constricting the supply of funds as to throttle world trade, whose expansion has been the chief bulwark of global prosperity...
...Steel Works; the Bank of America contributed to auto plants in Brazil and France and to the Mangla Dam between India and Pakistan. To attract the rising consumer classes overseas, many of the U.S. banks also offer loans to small borrowers, who often find it impossible to get credit from more conservative local banks and are willing to pay interest charges of 8% to 10% or even more. This year First National City will export another U.S. banking institution: the Christmas Club...