Word: exceeding
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Germany's rate of currency depreciation and her State deficits now far exceed those of Soviet Russia. In foreign exchange, rates for the mark are so vastly depreciated that they can be expressed only in incalculably large figures. In both London and New York prominent banks have refused to quote, buy or sell the vanishing German currency any longer. It is likewise being stricken off the prominent European stock exchanges, where ordinarily foreign exchange is traded in actively...
...Dawkins, 45, U.S. Army (ret.). As head of Lehman Brothers' public finance group, the former All-America halfback will work with states and municipalities in raising money, a position that will allow him to make friends and influence people around the country. His salary and bonuses will easily exceed $100,000 a year. Dawkins has never worked on Wall Street, but Lehman Brothers bought a name and a remarkable track record...
...today is worth less than a 50-shekel note was in 1980. The country's G.N.P is expected to grow only 2% this year, after stagnating in 1982. Foreign debt is, at $20.9 billion, one of the highest per capita in the world, and the trade deficit may exceed $5 billion this year. The U.S. General Accounting Office warned recently that a substantial portion of Washington's $2.5 billion in military and economic aid was being used to help Israel repay past debts. Without increased levels of assistance, Israel could soon owe the U.S. as much in annual...
...really vital, and which merely seem desirable. The Army's plain-spoken new Chief of Staff, General John Wickham (see following story), came close to warning that the U.S. has taken on more military responsibilities than it can handle. The U.S. "contingency needs," the general said, "probably exceed the force capabilities." In other words, with almost half of his 791,000-troop Army now overseas, Wickham, like many of his colleagues, feels logistically overcommitted...
...greatest damage has been inflicted on U.S. industries, however: foreign imports have become alluringly cheap and American exports forbiddingly expensive. The result: record U.S. trade gaps that could exceed $60 billion this year and reach a staggering $100 billion in 1984. "Having a $100 billion trade deficit is like suicide," says Otto Eckstein, chairman of Data Resources, a Massachusetts-based economic forecasting firm. "It will mean more plant closings and more unemployment." Data Resources estimates that more than 1 million worker layoffs in the past two years were caused by the strength of the dollar...