Word: debt
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Dates: during 1950-1959
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...driving a record number of new cars out of dealer showrooms this year. Americans have run up a staggering bill with the auto-finance companies. In the first six months of 1955, while installment buying of appliances and other consumer goods rode along steadily at about $5.5 billion, auto debt jumped a thumping 21% to $12.6 billion. It has gone up about $500 million every month since February, and it is still climbing. With less than eight weeks to get rid of some 1,500,000 of this year's models, many of the nation's auto dealers...
...back seat, automen in the driver's seat sped on to more production records, predicted that the total would reach 7.5 million cars this year, up a full 36% from 1954. With high wages and record employment, producers figure that U.S. workers can afford to go into debt. Only 9% of the nation's $266 billion disposable income goes into time payments, said a G.M. spokesman, but "14% or 15% with good credit would cause no damage...
...Economy. The nation's minimum wage was raised from 75? to $1. The debt limit was set at $281 billion for another year...
...Greece. As the college was just recovering, the Young Turks revolted. Then came the Balkan Wars, World War I, the Kemal Ataturk revolution of the '20s, and the Great Depression. By 1944, when Ballantine's able predecessor, Floyd Black, took over, the college was $500,000 in debt. Only by the most stringent economies-"prowling about the halls," recalls one professor, "turning off lights, or more likely, unscrewing the bulbs so nobody else could turn them on"-was Black able to get Robert nearly...
...States Council. He was a World War I artillery lieutenant in France, graduated from Harvard Law School in 1922, served the Government as RFC counsel (1933)) president of the Export-Import Bank (1936-44), and U.S. delegate to the 1951-52 conference on Germany's $6 billion foreign debt. As 17th (and fifth American) president of the ICC, Internationalist Pierson will push for economic integration of Western Europe...