Word: debt
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Dates: during 1950-1959
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...sadly admitted that its foreclosure of Lustron would yield less than $10 million in machinery and houses on hand. The only way foreclosure could be avoided, said RFC, would be for some private company to take over the $37.5 million Lustron debt. RFC didn't "see any sign of that happening...
...Federal Reserve Board. The chief task of FRB should have been to restrict credit during the boom, by forcing interest rates up. But the Treasury, insisting on a cheapmoney policy, fought any change, because a change would have meant an increase in the cost of carrying the U.S. debt. Time & again FRB failed to do its job, and went along with what FRB's Marriner Eccles called the Treasury's "general easy-money bias under almost any and all circumstances...
...instance, the "welfare state" turns out to be a minor offender in the big 42.4 billion dollar total. National defense, foreign commitments, veterans' benefits, and payments on the national debt (nearly all results of the cold war or World War II) account for 71 percent of the budget. n 1939, the last "normal" year, these four made up only 29 percent of expenditures...
Little Finland has been a burr in a bear's paw. The bear has alternately gone after it with tooth & claw, licked it with honeyed tongue. Before last year's elections, Russia offered the Finns a friendship pact, reduced their reparations debt. The maneuver failed. The Finns trotted off to the polls, returned even fewer Communists to the Diet than they had had before. Last week, on the eve of Finland's presidential election, the bear bared his teeth...
Besides the whopping income from oil, Alberta's revenues in the last fiscal year (ended March 31, 1949) reached a record $57.5 million, and the government was able to finish off the year with a $7.5 million surplus. Manning now estimates that Alberta will be debt-free in 30 years...