Word: latinizing
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Dates: during 1970-1979
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...Abboud now is that U.S. capitalism is not getting enough new capital. "There is a tremendous disinvestment in the economy," he says. The number of shareholders has shrunk so drastically that Wall Street's plum has become a prune. Americans are spending instead of investing, figuring as do Latin Americans that it is better to buy now because the price of everything is going to be higher tomorrow. "In consequence," adds Abboud, "big firms like A T & T can get capital, but small companies have a hard time. So the basic job-producing engine is drying up." No wonder...
Clubby bankers from Zurich to Tokyo have confided to Abboud that Middle Eastern, Latin American and Asian capitalists are poised to invest many billions in the politically stable U.S.-as soon as they become convinced that they will not lose because of further dollar erosion. When these worldly investors plunge in, the stock market will surge, many jobs and business opportunities will be created, and the temporarily groggy champ will start to bounce back...
...August vacation break, and Curial Cardinals were scattered everywhere. Cables went out to them and to all Cardinals around the globe, summoning them to Rome. Sebastiano Baggio, head of the Vatican Congregation of Bishops, had to fly in from Colombia, where he was helping prepare an October meeting of Latin American bishops. On Tuesday, in the presence of those red hats who had arrived in the Eternal City, Villot raised a hammer and smashed the Fisherman's seal, inscribed with Paul's name, that had been removed from the papal ring. The purpose of this traditional ritual is to prevent...
...second largest national bloc, its nine Cardinals are not expected to unite behind a single candidate or carry much collective weight. One of the nine,* John Wright, conservative prefect of the Sacred Congregation for the Clergy, is recovering from surgery in Massachusetts and unable to attend. Other groupings: Latin America (including Puerto Rico), 20; Africa, twelve; Asia, eleven...
...credit of Paul, the supposedly timid Pope. It was Paul who appointed the first black and Chicano bishops in the U.S. in this century, 19 black African and Asian Cardinals and, earlier this year, the first black archbishop in South Africa. He made unprecedented papal visitations to honor Latin America, Africa, Asia and the Pacific islands. In these regions his landmark utterance was not the divisive 1968 Humanae vitae, the birth control encyclical that caused such an uproar in the West, but his 1967 Populorum progressio, a Catholic charter for social and economic righteousness...