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...succeed Desai as Prime Minister is surpassed only by his abiding hatred for Indira Gandhi. Though temporarily incapacitated by a heart attack, Singh warned that Desai's action against Narain had "sounded the death knell of the Janata Party." At the same time, he launched his own indirect offensive against Desai by calling for Mrs. Gandhi's immediate arrest. Scorning Desai's view that she had been punished enough by her defeat at the polls last year, Singh declared that the government's failure to arrest Mrs. Gandhi for abuse of power during her 21-month...

Author: /time Magazine | Title: INDIA: Janata's Bad Smell | 7/17/1978 | See Source »

Miller has probably set the right money-growth target, but hitting it is about as difficult as fine-tuning a color TV set while wearing boxing gloves. The Federal Reserve controls money by the indirect method of buying or selling Government securities. When it buys, it creates money out of thin air; it pays with its own checks, which the sellers?individuals and corporations?deposit in their bank accounts. The checks become new money, available to be loaned out. When the Fed sells Government securities, it withdraws money from circulation; the buyers pay with checks that disappear into Federal Reserve...

Author: /time Magazine | Title: Inflation: Attacking Public Enemy No.1 | 7/17/1978 | See Source »

...aversion to direct military involvement of any sort, the Zaïre invasion by Marxist rebels seems another oblique push from Mother Russia, and one which will necessitate action if similar activities continue to occur. The question is when will Jimmy Carter draw the line on this conspicuous, albeit indirect, Soviet expansionism...

Author: /time Magazine | Title: Letters, Jun. 19, 1978 | 6/19/1978 | See Source »

...conduct federal research projects. Recent decisions by President Carter--including an 11 per cent increase for 1979 in basic research funds for universities and the proposed formation of a separate Department of Education--make research costs all the more important. There are two kinds of research expenses--direct and indirect. Direct expenses include those which provide for lab instruments, technicians and other specifically earmarked items. Both the government and Harvard agree that these costs should be covered by the group directly benefiting from the research efforts...

Author: By Robert O. Boorstin and Susan D. Chira, S | Title: Harvard on the Hill | 6/8/1978 | See Source »

...problems come in the area of indirect costs--those expenses for providing an "environment" in which research can take place...

Author: By Robert O. Boorstin and Susan D. Chira, S | Title: Harvard on the Hill | 6/8/1978 | See Source »

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