Word: largest
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Dates: during 1980-1989
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...corporations, it is the mountain of debt that has been created by a spate of fierce merger wars. Consumers who have been seduced by easy credit know it as the flood of bills that arrive each month. For the Government, it is the largest and most menacing budget deficits in U.S. history. From whatever vantage point it is viewed, Americans have been on a frantic borrowing binge. And that vast accumulation of IOUs has become a frightening threat to economic well-being...
...numbers alone tell an awesome story. U.S. debt for all households, governments and nonfinancial businesses swelled last year by $722 billion, or 14%, marking the largest increase ever. Led by the runaway buildup of federal borrowings, every sector of the economy contributed to the record gain. Business added the heaviest load of new obligations in more than a decade. Consumer debt took the greatest leap in five years. Warns Federal Reserve Chairman Paul Volcker: "Debt growth of this magnitude would appear to be much faster than is consistent with the long-run health of our economy and financial system...
...Raymond Dalio, a Connecticut-based economic consultant, estimates that the country's net foreign debt could grow to $1 trillion by 1990. At home, consumers remain hefty borrowers. Installment loans, which account for 22% of household borrowing, jumped 21.3% during the twelve months that ended last April, the largest gain since the 1950s...
...these and some 60,000 other computer owners, electronic home banking, a long-promised technology, has finally come of age. About 50 banks, including many of the largest, are competing vigorously to lure computer users into home banking, often by such inducements as free software, bargain-priced modems and reduced fees for access to the news wires. Betting on the trend, Chemical Bank and BankAmerica, two pioneers, last month entered into a joint venture with AT&T and Time Inc. to market banking and discount stock-brokerage services to computer-equipped households across...
Disagreement between Sears, Rocbuck & Co, and a Cambridge real estate firm over the terms of a new least has forced the closing of the 58-year-old Sears department store in Porter Square, a landmark for local residents and the area's largest department store...