Word: lended
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Dates: during 1970-1979
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...trade accord with the U.S. invalid, the Soviets rejected by extension the Trade Reform Act signed by President Ford early this year. Thus the U.S.S.R. spurned lower U.S. tariff rates and $300 million in Export-Import Bank credits, while reneging on their agreement to repay $722 million in wartime Lend-Lease debts...
Stock Scenes. Television is particularly ill equipped to cope with economic news. Until recently the commercial networks had virtually no economic specialists among their correspondents; as a medium, TV is handicapped when it covers any complex story that does not lend itself to exciting video. The standard half-hour evening news show allows time for little more than undigested statistics delivered machine-gun style and stock scenes of unemployment lines and supermarket aisles. Lately the networks have begun to do more specials on the recession. NBC broadcast an hour-long review on New Year's Day; to moderate...
...recycling should be accomplished. Hammered out only last week in London and agreed to unanimously by finance ministers of the nine Common Market countries, the European scheme calls for direct participation by OPEC producers in a recycling "facility" run by the International Monetary Fund that would receive and re-lend $10 billion to $12 billion in oil-country surpluses this year. Essentially, this would be an expanded version of the so-called Witteveen plan, a much smaller recycling facility, named for IMF Managing Director Johannes Witteveen, that has been in operation since last June. Witteveen II, as the bigger model...
...Demand. But once bitten by the growth bug, many banks threw off the old restraints. They now compete vigorously for loan customers and meet the pumped-up demands for loans with money they themselves borrow-from each other, the public and the largely unregulated Eurodollar market. Such go-go lending policies, Mayer believes, bloated business and consumer demand and contributed in no small way to the present inflation rate. Banks also damage the economy, says the author, by going to capital markets to borrow a large proportion of the money they lend. The practice weakens the Federal Reserve Board...
...West should also join them in developing alternative forms of en ergy and should send technology and experts to OPEC countries. Fast development is inevitable in the oil countries, and it will help work off their surpluses by spurring their imports. For their part, OPEC members may lend or invest some of the huge sums of capital that oil importers will need to develop energy supplies from the atom, from shale and sands and, probably many years from now, from the sun and wind...