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...been troubled for so long by inflation and balance of payments deficits that European money markets respond with knee-jerk nervousness to almost any news about the dollar. Thus, last week, the latest word from Washington sent money speculators scurrying to the major exchanges. Cause of all the excitement was a report issued by the Congressional subcommittee on international exchange and payments. Committee Chairman Henry Reuss of Wisconsin and his colleagues suggested that the U.S. dollar should be devalued -preferably by an upward revision in the price of strong currencies like the West German Deutsche Mark. Short of that, they...

Author: /time Magazine | Title: MONEY: Devaluation Jitters | 8/23/1971 | See Source »

...cannot help approving of President Nixon's proposed trip to Red China. Knee-jerk anti-Communists will quote the history of broken treaties by Communist countries as an excuse for isolating this political dogma, but the wise man uses history to his advantage and does not make himself a prisoner of it. The past should make us wary, but it should not paralyze our will to seek a better world through constant reappraisal of our own policies as well as those we oppose...

Author: /time Magazine | Title: Letters, Aug. 16, 1971 | 8/16/1971 | See Source »

...experience of flying at literally twice the speed of sound was more dramatic in what did not happen than in what did. My neck did not snap on takeoff, nor did I require a straitjacket to remain in my seat. The plane did not jerk its way up in roller-coaster fashion or plunge straight to the earth for landing. 1 had a feeling of rather unsettling normalcy...

Author: /time Magazine | Title: Business: Up There at 1,300 m.p.h. | 6/14/1971 | See Source »

...confusion! At Grand Central you can't tell the action crowd from the nine-to-fivers. Singapore Sammy stopped there to put a saw on Carry-Me-Back in the fifth at Roosevelt and wound up on the 5:14 to Greenwich. And some jerk commuter in a sulky tie accidentally picked up 800 green ones on the daily double. Our esteemed bookies are now very upset persons, since their action has now gone legit. The whole deal, Al-well, it's got no romance. And you know me and horses, Al. When it comes to the ponies...

Author: /time Magazine | Title: The Nation: You Know Me and Horses, Al | 4/19/1971 | See Source »

...Vipers, Polemicist-Novelist Philip Wylie has a certain reputation to live up to. In his own way, he turned the crank letter into a literary form. In that eruption 29 years ago, he added to the sum of human choler by announcing, among other things: "Gentlemen, mom is a jerk...

Author: /time Magazine | Title: The Nation: Mom's Kids | 2/15/1971 | See Source »

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