Word: inflationitis
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Dates: during 1960-1969
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Castello quickly introduced reforms, but he went at his job like a surgeon with a dull knife. In a series of decrees, he tightened credit, cut government spending 30%, canceled ruinous import subsidies, and brought the rate of inflation down to 41% by last year. To clean out Communists and...
Bid to the Public. As Castello's successor, Costa e Silva is taking a new approach to Brazil's economic problems. Where Castello blamed excess demand for the country's inflationary troubles and tried to limit the amount of money in circulation, Costa's government is...
Following the Blueprint. Much of the fuel for last week's advance came from the Government's report that the total U.S. output of goods and services increased $3.9 billion (adjusted for price inflation) during the second quarter. The nation's economy thus grew at a true...
Even so, the Administration is not complaining about inflation. One reason is that, by selling its remaining silver on the newly ebullient market, the Government stands to make a handy $30 million to $50 million profit.
In Brazil's inflation-ridden economy, getting a new car financed usually means making a 50% down payment and pay ing a whopping 3½% monthly interest on the balance over the next 18 months. Nonetheless, Brazil makes a substantial number of its own vehicles, and sells its tax...