Word: depression
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Dates: during 1970-1979
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...interest rate will be both inflationary and recessionary. The high cost of interest, which directly increases the cost of everything consumers buy, especially for a home which is paid for over many years, will inflate prices while constricting demand for goods and labor. Though the latter may tend to depress prices, the former, given the exorbitant interest rates, will in all probability overwhelm the deflationary advantages. And in the case of high interest rates, it is once again the less wealthy who are priced out of the market, or to put it in more human terms, kept from owning homes...
Many of the explanations for the dollar's dive were depressingly familiar: the continuing weakness of the nation's trade balance, lack of progress in Congress on an energy bill, persistent rumors that petroleum-exporting nations might be planning to stop pricing their oil in dollars and switch to a basket of stronger currencies. To that litany, businessmen, bankers and money traders added a couple of new elements: dismay at the lack of any sort of dollar-strengthening scheme to emerge from the economic summit in Bonn of the previous week, and a feeling that European leaders are making unexpected...
...coin but a series of accounts that member governments would use. European currencies would be allowed to fluctuate around the ECU in a narrow band of 1% either way, and the ECU would float against the dollar. Moreover, when member nations intervened on foreign-exchange markets to support or depress their own currencies, they would no longer use dollars but any of the ECU currencies. Within the proposed currency union, payments between nations would be made in ECUS rather than dollars in order to isolate Europe as much as possible from the U.S, currency...
With his people and his army behind him, Sadat today has concentrated more power in his hands than Nasser ever had. Yet the villager who became a ruler feels alone in power. The threat of death does not depress him, he says, even though he has become the No. 1 villain to Arab rejectionists. "Neither the Palestinians nor Gaddafi," he said, "can deprive me of one hour of my life, if God doesn't accept it." At the Barrages, Sadat recalled a book about Abraham Lincoln that he had read as a boy. "Lincoln was a villager...
Ferguson offered eight economic proposals he said would have an impact on South Africa, including U.S. legislation to deny tax credit to U.S. companies in South Africa and a further push by the U.S. to depress the value of gold, one of South Africa's major national resources...