Word: dollar
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...might be quickening. Reflecting similar worries, the Federal Reserve System again stepped hard on the monetary brakes by selling Government securities to drain bank reserves and raise the cost of borrowing. With oil imports propelling the U.S. balance of trade deficit toward an alarming $30 billion this year, the dollar last week skidded sharply against the Japanese yen, the West German mark and the Swiss franc. "Economically," conceded a White House aide, "it's been a rotten week for the Administration. I mean it's bad enough to have businessmen and stockholders causing all sorts of commotion without...
...years of semisocialism-and all the government controls and subsidies that went with it-the brave new world of laissez-faire capitalism so abruptly introduced by Premier Menachem Begin began exploding before their eyes. The Israeli pound, shorn of its artificially pegged value, quickly plunged 46% against the dollar, from 10.3 to 15.2. Prices of essential consumer goods, no longer kept deliberately cheap by big government subsidies, began climbing in stages that even government economists predict will lead to a 45% inflation rate over the next 18 months. Yet no excessive amounts of capital fled the country, and a flurry...
DIED. Anton (Tony) Hulman Jr., 76, sportsman who transformed the dying Indianapolis Motor Speedway into a multimillion-dollar attraction; of a ruptured artery; in Indianapolis. In 1945 Hulman bought the speedway-which had been closed during the war years-from Eddie Rickenbacker for $750,000. He revived the "500" and refashioned a folk festival where thousands gathered every year and heard him say, "Gentlemen, start your engines...
...There are people who don't want any help, because they're addicted to these pills. It's a way for them to get these pills by coming to me." Valiums induce a state similar to drunkenness. "Every Indian who walks into that hospital drunk looks like a big dollar sign to these doctors," Grace says...
Currently, the threat of low-priced foreign competition also worries businessmen-and with good reason. The U.S. trade deficit is ballooning toward a horrendous $30 billion this year, almost five times the 1976 figure. The present drop in the value of the dollar-6% against the Swiss franc, for example, in the past eight weeks -hardly inspires confidence either. Unease about many of these matters predates Carter's Inauguration, but there is no question that doubts about the President's economic policy have increased the reluctance to invest. Says Willard Butcher, president of Chase Manhattan Bank: "Frankly, many...