Word: crunchingly
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Dates: during 1970-1979
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OVERCROWDING at Harvard and Radcliffe will again reach crisis levels this Fall, forcing most Houses to overload many suites and take other extraordinary steps. But both besieged House secretaries and a noticeably calmer Harvard Administration continue to hope the usual safety valves will relax the housing crunch...
...went belly up, and Economics Minister Hans Friderichs coldly said that collapses of "unsoundly financed" firms are "absolutely in the sense of our policy." No one expects the Federal Reserve to go that far; Burns in 1970 proved entirely willing to expand the money supply quickly when a credit crunch threatened to cause many U.S. bankruptcies. There is still a risk, however, that the board will make credit scarce and expensive enough to discourage not only excessive but also necessary borrowing and thus invite a recession. Burns rates that risk low; "as of today, I consider the talk of recession...
...fall lines. Uncontrolled interest rates keep soaring; major banks last week raised their prime lending rate to businessmen from 8¼% to 8½% and let it be known that they will soon lift it again to 8¾%-equaling the record set just before the money crunch of 1969. This is helping pull mortgage rates up to 8½% in some parts of the country amid predictions that even higher home-loan fees are imminent. Thus the American consumer enters Phase IV with only three things to worry about: the rising cost of food, clothing and shelter...
...financial crunch is hitting hard at headquarters. The church is selling off its eleven-story Witherspoon Building in Philadelphia and consolidating its offices in New York City as part of a top-to-bottom reorganization. The national staff, half as big as it was under Blake, is now being slashed in half again. It is the worst of the cutbacks suffered by various liberal Protestant agencies in recent years...
...nuclear power plants are either in use or in various stages of planning or construction in the U.S. But almost all are conventional water-cooled reactors fueled by uranium 235, a rare isotope of uranium that is becoming increasingly difficult to mine and process economically. To avoid a uranium "crunch," President Nixon has ordered development by the 1980s of a new type of reactor called the fast-breeder, a name derived from its unique capability: during the chain reaction, surplus neutrons from the atoms of U-235 in its core bombard a surrounding blanket of U-238, a much more...