Word: dollar
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Dates: during 1970-1979
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...memorandum presented to Carter urges him to pledge publicly that he will hold the deficit to $60 billion and at least implicitly threaten to veto big-spending bills. Says one high economic adviser: "If we go above $60 billion, the stock market will be affected and so will the dollar. It's damn important psychologically...
Sink it did last week, and not so gradually. Before the agreement, the dollar had risen to 2.08 DMs; by week's end it had dropped to 2.03. It also fell against the Swiss franc, the French franc, the Italian lira and the British pound...
...Tokyo, the dollar hit a new low of 231.40 Japanese yen. Alarmed by the trend, which makes Japanese exports more expensive, the Tokyo government forbade sale of short-term Japanese bonds to foreigners and cut the central bank interest rate to 3.5%, the lowest since 1946. Those measures failed to keep dollars from pouring into Japan, so the Bank of Japan bought up $500 million of greenbacks offered for sale. That did not prop the price, and at one point the dollar broke the 230-barrier on some exchanges...
...gray Brillo hair, thick bookkeeper's spectacles, a heap of optimism and no pretenses. From his 14th-floor corner office behind security-locked glass doors in the Gen eral Motors Building, he looks out at Detroit's soaring Renaissance Center, which is the city's multimillion-dollar bet on its own future, and to him the view is bright...
...theory, anyone with scissors could emulate Dover's vast output and multimillion-dollar volume. The prospect is pleasant: bygone writers do not require royalties, and artists from other epochs are in greater demand now than they were in their own lifetimes. "All it takes to maintain Dover," says its president and owner, "is judgment, hard work and luck...