Word: investments
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Dates: during 1980-1989
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...staggering under an installment and mortgage debt load of more than $1 trillion. Yet even credit crunches create opportunities, and some canny consumers have found profits in the vortex of soaring interest rates. A Detroit magazine editor, for example, now sends his savings across the border to invest in the Canadian Bank of Nova Scotia, where six-month certificates yield 17.5% and up, or 2% more than is available Stateside. Two daughters of an affluent Birmingham, Mich., physician used $14,000 in low-interest Government student loans (see box) to invest in real estate and bank certificates...
...backed by a "substantial portion" of the estimated 200 million oz. of silver they hold. These bonds would pay a low rate of interest (estimated at 8%). One theory, advanced by Metals Dealer Andrew Racz, is that they were trying to raise money at low cost to invest in higher yielding (15%) U.S. Treasury bills, or even, as James Sinclair, another bullion broker, thinks, to buy more silver. But the prevailing belief was that Hunt, locked into a silver position that he could not sell out at any price he would accept, was in effect trying to turn his silver...
Largely in response to such protestations, the Federal Reserve announced, as part of the new Carter program, that all money market funds must set aside 15% of any future deposits in non-interest bearing accounts with the Federal Reserve. Since money market funds cannot then invest this cash in bank certificates of deposit or any other high-yielding accounts, the effect for fund shareholders would be a modest reduction in the net interest they could earn...
...A.C.S. grant in August 1978 brought interferon instant respectability, accelerated worldwide IF research, and set off a flurry of activity in the executive suites and laboratories of the nation's drug companies. Impressed by the fact that the cancer organization thought enough of IF's prospects to invest so much of its scarce money in the test, industry decided to gamble on the drug's success. Pharmaceutical companies have now poured as much as $150 million into interferon research and production facilities. Their incentive was heightened last summer when the National Cancer Institute announced that it would buy as much...
...industry talk much about a steel shortage leading to high returns in the mid-1980s, but that is probably wishful thinking. Still, steel demand is projected to rise from last year's 115 million tons to 134 million tons by 1988. If the industry starts to invest in more productive plant and equipment now, it will probably be able to meet most of that demand without much more than the current 15% reliance on imports. But if nothing is done by then to halt the decline of steel, the A.I.S.I. warns, domestic shipments will drop to about 85 million...