Word: dollar
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Dates: during 1970-1979
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...generally accepted, in fact, that the Navy must become a better manager of its multibillion-dollar shipbuilding effort, if for no other reason than that the current mess has seriously hurt the service's case for more vessels. Edward ("Randy") Jayne, of the Office of Management and Budget, bluntly warned some of the Navy's top officers at a recent conference: "If you remember nothing else, please remember this. The present shipbuilding difficulties represent in my view the single most influential reason why President Carter chose not to accelerate Navy ship purchases in the 1979 budget...
...East but, specifically, of whether America is prepared to be a reliable friend. As Crown Prince Fahd explains it, the Saudis' relationship with the U.S. involves a basic tradeoff: oil for security. They are prepared to hold down oil prices, expand their productive capacity and help protect the dollar−all of which are vital to the U.S. and its Western allies. In return, they want security...
Wait. The alternate question is discuss the impact of Sadaharu Oh's homerun record on dollar-yen exchange rates. At one point in recent history the number of yen needed to buy one dollar was equivalent to Oh's annual homerun output...
...have sent prices into a spin. Some highly technical midweek moves by the Federal Reserve to drain money out of banks and thus nudge up interest rates depressed stock prices for only a few hours. Traders concentrated instead on cheerier trends, above all a long overdue rebound in the dollar on world markets...
...knows? As the rally demonstrates, market psychology can mercurially shift. Since the end of 1976, when the Dow closed at 1004, investors' minds had been dominated by fears of inflation, higher interest rates and possible recession, despondency about the dollar and a widespread feeling that the Carter Administration was floundering in economic policy. By last Feb. 28, the Dow had sunk 26%, to 742, at which point stock prices had discounted all the bad news that could reasonably be expected, plus all that could unreasonably be feared, plus a bit more for good measure...