Word: hocks
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Dates: during 1990-1999
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Joseph Williams, an employee of the Bank of America, invents the first all- purpose credit card in 1956. Several years later at the same bank, Dee Ward Hock devises the computer system that processes charges so credit cards can be used everywhere. What a perfect name for the father of the modern Visa card -- Hock...
...chronically weak currency like ours is a sign that the country is living beyond its means. It's a sign that we are deep in hock, and for all the wrong reasons. It's O.K. to go into debt if you put the money to some useful purpose, such as building a new factory or a better computer or a faster airplane. But we've borrowed heavily to buy cars, TV sets and more gadgets to put in the house. Maybe you haven't, but a lot of the neighbors have. Uncle Sam is the biggest offender...
...certainly be willing to do any kind of service to get myself out of hock with these Ivan Boeskys of student finance. As long as my credit rating is crashed, I might as well apply for some kind of Sallie Mae credit card with mileage credit. At least then I'll earn points for every trip I have to make between the Square and Garden Street--not to mention all the calls to my toll-free buddies at Elsi. Getting the paperwork right is important. I just hope Harvard pulls through today...
...proportion of gross national product has increased from just over 30 percent to nearly 70 percent. If current trends continue, the proportion will increase to 100 percent within five years. We are a rich nation. But even millionaires get into trouble when the amount they are in hock (out total debt) is equal to or greater than their annual income...
...that could bring the space age to life. In their eyes, those first moon landings represented a false dawn of space exploration, just as the early Viking voyages to America were ahead of their time. Only when technology makes space flight cheap enough, as one astronomer put it, "to hock your socks and go," will the real space age begin. What will that age produce...