Word: interest
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Dates: during 1970-1979
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Thompson continues: "Falkirk Mining Company is a wholly-owned subsidiary of the North American Coal Company. The project was set up in such a way as to enable Falkirk to benefit from large, low-interest loans which Cooperative Power and United Power were able to obtain from the Rural Electrification Administration. The contract between Falkirk, United Power, and Cooperative Power is set up in such a way that the more Falkirk's cost of production increases, the more money they receive. The cost of the project has already increased from $536 million to $1.2 billion, and the electricity it produces...
...Interest...
...even the populist Carter Administration has backed Volcker's high-interest policy. Yet banks have had plenty of money to lend anyway-perhaps too much. In the past month, the money supply has grown at an annual rate of 11.5%. Beryl Sprinkel, executive vice president of Chicago's Harris Bank, argues that this "hemorrhaging" must be stanched if inflation is ever to be curbed...
Republican Murray Weidenbaum, a visiting scholar at the American Enterprise Institute, argues that nothing less than a series of structural changes in the economy can break inflation. He proposes measures, including reduction of Government subsidies to farmers, shippers and other interest groups and elimination of some of the federal regulation burden that discourages innovation and new business spending...
...chief virtue of the old epistolary novel was suspense; the tense was present, and the letter writers did not know what would happen once they put down their quills. Barth strips the form of any forward thrust. His interest is not in progress or advancement but in recapitulation. The letters are governed by a "Deeper Pattern"; the letter writers slowly merge in the conviction that they are living the first part of their lives for a second time or, as one writes, that "biography like history may re-enact itself as farce." Stasis reigns, history is not Viconian cycles...