Word: dollar
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Dates: during 1970-1979
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Third, defend the "grossly undervalued dollar" by. buying up dollars in world markets. "We're out of our minds not to go in and spend whatever it takes. I don't think that it will take more than $20 billion to $30 billion, but it wouldn't bother me if it were $100 billion...
...weigh the most heavily. The ECU would be not a bill or a 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...
...shares with Britain and Italy, is that an economic group dominated by the West Germans would end up with conservative fiscal and monetary policies that would severely limit economic growth. Another fear is that the ECU, once established, would invite speculators and governments from Togo to Turkey to dump dollars for the ECU currencies, thus bringing more downward pressure on the dollar. Economist Robert Triffin, a U.S. monetary expert who has long championed a European currency, believes that it would help rather than hurt the dollar's stability in the long run. The final form of the common European...
...bewilderment over the root causes of inflation, and defeatism about the Government's chances of containing it. The Michigan group concluded that the consumers' outlook was "on balance unfavorable." Nonetheless, consumers told the pollsters that they felt it was a good time to buy cars, houses and other big-dollar items. Never before in the 32-year history of the Michigan surveys have consumers been so pessimistic about business yet so willing to spend...
...vague sense, Impact Aid is a form of rent paid by the Government in lieu of local taxes on federal buildings and property. But Carter Administration officials, who are trying to cut the fat out of a half-trillion-dollar budget, point out that often the money from Impact Aid goes to communities whether they need it or not. Some of the biggest beneficiaries are among the wealthiest school districts in the nation. Montgomery County, Md., has a per capita income about 50% above the national average, thanks largely to the battalions of Washington bureaucrats who live there. Even though...