Word: interests
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Dates: during 1960-1969
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...sheet for the acidhead community. Oh, no!, exclaimed the tribe, which wanted to make the paper into a kind of revolutionary New York Times. Leary and friend then became "honest brokers," suggesting that Max sell the paper to the tribe- for $1,000 a week for 140 weeks, plus interest. The tribe had to debate that one. "Before, we were slaves," argued a tribesman. "If we take the offer, we'll have feudalism. Marx wrote that feudalism was a step up from slavery, so maybe we should take the offer...
...even more. Most disturbing of all, Treasury Secretary David Kennedy put on yet another inexpert performance. At the beginning of the week, he and Federal Reserve Chairman William McChesney Martin met with 24 top bankers and, much to the disappointment of investors, failed to win any promise that bank interest rates will not be raised still higher. The next day Kennedy told the Senate Finance Committee that if Congress failed to extend the surtax, the Administration "may want to go into controls" on wages and prices...
...customers will redeem their fund shares for cash. Even those inveterate bulls, the managers of go-go funds, are unloading stocks, and the hedge funds have been hard hit. Some money is being shifted out of stocks into bonds. People who buy stocks on margin have to pay 11% interest, but those who buy bonds collect as much as 8% interest-a rewarding spread. Though analysts tirelessly repeat that the market is oversold, few see much chance for a strong rally until investors discern significant moves toward peace in Viet Nam or easier money at home...
...money front in Washington last week was just the opposite. Extension of the tax surcharge has become the symbol of the Government's determination to fight inflation; if it is not extended, the Federal Reserve will have to make money even tighter, and 12% interest rates could become the rule. But Senate Democrats are holding the surtax as hostage, vowing that they will not vote for it unless it is combined with long-overdue tax reforms. They sense a taxpayers' revolt and know that reform has become politically popular. Tax reform is necessary, said Chairman Russell Long...
...University of Michigan's Survey Research Center found in its second-quarter study that an overwhelming 77% of consumers expect prices to rise as rapidly or even more rapidly in the next year as in the past twelve months. The Center found no confidence that higher interest rates would curb inflation. George Katona, director of the survey, noted that earlier questioning showed many consumers expressing confidence that Nixon could bring inflation under control. His interpretation of the new findings: "The Nixon honeymoon is over...