Word: effectively
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Dates: during 1970-1979
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...discount-rate rise. Led by Chase Manhattan, the nation's third largest bank, several institutions immediately raised the prime rate (the interest charged the most credit-worthy corporate customers) from 13.5%, already a record, to a new peak of 14.5%. Since quarter-point raises are the norm, the effect of the full-point boost in the prime was electric. Not only did it push the interest charged to margin investors up close to 16%, making stock ownership on borrowed money extremely expensive, but it had a sharp psychological effect on the market. That was quickly compounded when Chase Manhattan President...
...SALT is not approved, that strategy will be jeopardized. All of the European NATO nations have large left-leaning political parties that are concerned about the effect an arms buildup might have on detente. They will accept the new missiles only if they are accompanied by SALT II, which in turn will lead to SALT III negotiations and possibly a genuine reduction of nuclear armaments...
...Catholic Church (like the Eastern Orthodox churches) has never ordained women. Reacting against the decision of some Anglican churches to do so, the Vatican in 1977 issued a decree stating that the policy on women is an act "in fidelity to the example of the Lord." That means in effect that if Jesus had wanted women priests he would have chosen a female apostle. (Some Protestants who take the Bible literally and oppose the ordination of women cite the dictum in the First Epistle of Paul to Timothy that women should not have "authority" over men in the church...
...situation, as a social anthropologist by training, as a very good thing, provided that there is understanding between a man like Dr. Treurnicht and myself. If a bridge can be built on two strong pillars across a rather wide spectrum, it may in that way effect renewal and reform and solve problems...
...that the yardstick for the people in this country must be a job and a house. The Riekert Commission's report has been accepted in principle by the government. This is a tremendous change in the system, but because of the government's uncertainty as to the short-term effect of this principle, they weren't quite prepared to phase out the 72 hour ruling at once. (Any non-European unable to produce a pass upon demand is subjected to 72 hour detention.) If the job and house principle would work in practice, then I think I would...