Word: finding
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Dates: during 1970-1979
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...trouble is that the kinds of "cash" being developed in the world's leading consumer economy are proliferating faster than the money managers can find ways to measure them. Among other elements in this unmeasured or "invisible" money stock are the credit lines consumers get with their Visa or Master Charge cards, the borrowing they do with a second or even third mortgage on a home, and the ability of companies to borrow on a line of bank credit, in the commercial paper market or even through an overseas financing subsidiary...
...reflecting national uncertainty about the future. This summer the Dow Jones industrial average had already declined 50% from its peak of 1051 in 1973, when adjusted for inflation. Concludes Economist John Kenneth Galbraith, author of The Great Crash, a study of the 1929 debacle: "It would be hard to find any buildup of speculative hubris that would make us as vulnerable as we were...
Currently I find myself involved in a longish epistolary novel, of which I know so far only that it will be regressively traditionalist in manner; it will not be obscure, difficult, or dense in the Modernist fashion...
...Shaplen is no dummy; when he doesn't know what will happen, he says so. On China, he writes, "No matter how many crystal balls one uses, it is patently impossible to foresee the future evolution of the Chinese Communist Party." Where a lesser writer would have struggled to find a trend, the seasoned journalist--whose 30 years experience has helped reveal the serious instabilities threatening every Asian nation--says what he feels...
...where Shaplen has chosen to write, he has done a spectacular job. For the expert on the Vietnam war or the student who has never heard of Kuala Lumpur. A Turning Wheel is required reading. Shaplen's ability to preach without being pretentious and to find the personal thread among the sweep of revolution is extraordinary. If his vision of Asia's future is hesitant, then he has learned more than most writers and journalists