Word: interestâ
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Impressive as the dollar's immediate gains were, the greenback will stabilize in the long run only if Carter and the Fed demonstrate that they will stick to a tight-money policy as long as may be necessary to reduce inflation, which could be several years. Meanwhile, higher interest???New York's Citibank led the parade last week by increasing its prime rate to a numbing 10.75%?will raise the cost of borrowing by businessmen to build factories or buy machinery and by consumers to finance new homes, cars or college educations...
...fondly known as TW3, lampooned and lacerated the Establishment, pooh-poohed every fat-cat institution from advertising to Buckingham Palace?and emptied British pubs on Saturday nights. Imported by NBC-TV in 1963, the American version of TW3 lasted two pallid seasons. Frost seemed to have lost ire and interest???or at least good gagwriters. In fact, he was concentrating on the endeavors that were to make him King Frost. He "went soft," as some old mates...
Nixon thinks in less kindly terms about the two superpowers' roles in the Middle East. He is known to believe that while the U.S. seeks peace there, Russia wants control. But there is a common interest???preventing the smaller countries from pulling Moscow and Washington into a major confrontation. His tactic throughout the hair-raising week, he said, was to "show great power but also to show great restraint...
...Johnson said he would not "chew on" President Eisenhower, "just as I have not and I will not spend my time now trying to destroy any in my party or in other parties who might come to this high office. Mistakes have been made?and inexcusable ones. But my interest???and I believe the interest of most of my fellow Americans?is in curing those mistakes, in avoiding those mistakes, not in exploiting them for political partisan gains...
...certificates were not stricken International Match's only assets last week. The match & lighter monopoly in Turkey was definitely established and the trustees felt fairly certain that eventually Turkey will repay its loan from International plus interest???a matter of some $14,500,000. In Turkey, International's subsidiary match factory was reported to be in full blast last week with every expectation of continuing. Praise of Turkey's fairness was read into the record. But from all the other listed assets of International nothing tangible had arisen last week although investigators were reading thousands of telegrams, prowling into vaults...