Word: high
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Dates: during 1960-1969
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Dedicated, disciplined, durable, Owens is the kind of runner professional coaches dream about. And in an age when many highly touted rookies turn up at contract negotiations with some high-flying salary demands, he sounds like the answer to a general manager's prayer. "I have no preference," says Owens. "I'll be happy with any team that happens...
...mussy-haired jolie-laide. It was Parisian Hairdresser Christophe Carita who contrived an early Goulue 18 months ago (never-minding Brigitte Bardot, who had been topping her bikinis with it for a good while before that). Carita's colleague Alexandre got into the Concierge-Goulue act with a high-piled version winding up with a "brioche" for such style-setting clients as Princess Grace of Monaco and Vicomtesse Jacqueline de Ribes...
...crisis has been long building. In a current book, The Price of Money, Sidney Homer and Richard Johannesen date the bear market in bonds from 1946, when high-quality corporate debentures sold at interest rates of 2.45%. But the rise in rates and the concurrent drop in bond prices have speeded up enormously since the current inflation began in 1965-and especially this year. Last week, for example, the New Jersey Turnpike Authority sold $137 million worth of bonds at a tax-free interest yield of 7%, compared with a 5⅞ yield on bonds that it had sold four...
...What Is High? Simultaneously, inflation makes bonds or mortgages unattractive investments. If prices kept on rising during the 20 to 40 years that investors often must wait for full repayment of principal, investors eventually would get back dollars worth much less than those they originally lent. Meanwhile, interest rates would keep on climbing-to levels that might make even today's yields look piddling because lenders would demand even higher returns to keep ahead of prices. (Some mortgage lenders now grumble that they are "stuck" with loans made years ago at interest that seemed high then...
...much of the world, Scandinavia, rather than the U.S., represents the ideal of an economic Utopia. Sweden has the world's second highest per capita income; Denmark, Norway and Finland also rank high. All four are free of slums, hunger and extreme poverty. All enjoy steady economic growth combined with full employment. By contrast, the U.S. is beset by labor unrest, rising unemployment and slow growth. How do the Scandinavians do so much better...