Word: feds
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Dates: during 1970-1979
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...personnel to act as air controllers on the ground. Was he launching a trial balloon for the Administration? The idea provoked a bitter comment from South Dakota's George McGovern: "Any Senator who talks about sending American forces into Cambodia should lead the charge himself. I'm fed up with old men sending young men out to die, particularly in stupid wars of this kind...
This exodus entails few physical hardships. On arrival at the hospital-clean refugee camp, the newcomers are fed a hearty breakfast, and over the next four days they are given medical checkups, new papers, job counseling and briefings. When the refugees are ready to leave the camp, the Bonn government provides each family of four with the equivalent of $200; the newcomers are also entitled to reimbursement for visa and travel expenses. In labor-short West Germany, where 900,000 jobs are open, the refugees should have no trouble finding work...
...Nixon's. Some Federal Reserve economists figure that in order to make Nixon's predictions come true, the board would have to increase the money supply at a 9% to 11% annual rate, almost double the 5% to 6% pace of recent months. Burns and his fellow Fed governors deeply fear that so great an increase would be highly inflationary...
...said at one point. Then, attempting to speak past Congress and align himself politically with a widespread feeling that runs from the radical right to the radical left, he made a curious, almost self-condemnatory statement. "Let's face it," he said. "Most Americans today are simply fed up with government at all levels. They will not -and should not-continue to tolerate the gap between promise and performance." To remedy that situation, Nixon pledged nothing less than "a new American revolution-a peaceful revolution in which power was turned back to the people." As so often with Nixon...
Cheaper Mortgages. This abrupt turnabout was largely engineered by the Federal Reserve Board. Hoping to stimulate business, the Fed has been increasing the money supply at an annual rate of 5% to 6%. Instead of borrowing, however, corporations have been trying to clean up their debts and build their cash reserves. Speaking of 1970, James Howell, chief economist of Boston's First National Bank, says: "We damn near had a collapse of business-loan demand." Consumers have also been reluctant to borrow because they are worried about social unrest, the economy and rising unemployment, which has been unusually high...