Word: dollar
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Dates: during 1970-1979
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Singing groups come and go like May flies these days, but last week a 20-member ensemble called the Million Dollar Chorus came and went in what must be record time: one hour. The chorus consisted of such New York City boosters as Polly Bergen, Robert Merrill, Ruby Dee, Celeste Holm and Guy Lombardo. They all assembled at a recording studio to perform one number, a snappily chauvinistic tune called Mad About You Manhattan. Sample lyric: "A double-decker bus is fun in Piccadilly Square/ But I prefer a subway car to take me everywhere." The idea is that...
...economic affairs impressed the experts. He designed the strict wage and price controls that temporarily slowed inflation but in the long run were ineffective, partly because Government directives shifted so often. Though America's European allies grudgingly admire his shrewdness in ramming through the first devaluation of the dollar in 37 years, in order to start reversing the long string of U.S. payments deficits, they almost unanimously consider Connally to be devious, arrogant and abrasive. West German Chancellor Helmut Schmidt is furious with him. Many other leaders still bridle at a remark attributed to Connally in 1971: "What Europe...
...international monetary system. Last year the U.S. persuaded other countries, including a reluctant France, that the International Monetary Fund should auction off one-sixth of its gold hoard, or 25 million ounces. Meanwhile, the economic conditions that triggered the gold boom of 1973-74 have largely disappeared. The dollar is steady, world inflation rates have come down and the general panic set off by the oil crisis has abated. All those trends reduce the distrust of paper money that moves many speculators to put their funds in gold...
...diameter. Despite pressure from biologists anxious to begin Viking's life-seeking experiments, Martin decided that the risks at the second site were too great for the 1,270-lb., three-legged lander; to lose it on landing would leave the billion-dollar Viking mission totally dependent on Viking...
Except perhaps for gold, no monetary asset has quite the mystique of the Swiss franc. Since 1970, it has gained 74% in value against the dollar, more than 130% against the British pound and Italian lira, and even 23% compared with the almighty West German mark. The franc's strength is usually attributed to Switzerland's social and political stability and its reputation as a haven for funds of all sorts. Recently, the value of the Swiss franc has also been boosted by some economic successes that are the envy of most other nations...