Word: lending
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...they will collect a staggering $150 billion over the next five years. But they will be unable to buy or build fast enough to use up even one-third of their oil money on domestic development. By 1980, they stand to have well over $100 billion in surplus?to lend, give away or invest in foreign countries...
...chancelleries and countinghouses, everybody is seeking ways for the OPEC countries to lend their surpluses back to the oil importers in a massive "recycling." A hypothetical example of recycling: Italy pays several billions of dollars to Aramco, the marketing agent, for Saudi Arabian oil; Aramco then pays this money to Saudi Arabia, which in turn deposits it in Western banks; the banks then lend it back to the government of Italy. Trouble is, the petrodollar deposits are short-term (the oil countries want the power to pull their money out at a moment's notice), while most loans...
...auto industry is crying; perhaps the beef producers could lend them handkerchiefs. A better idea would be to return to the barter system of doing business. Trade cars for cattle, have the cattle processed, and pay the workers with meat...
Wall Street is well equipped to absorb the petrodollar billions. The Arabs, however, are suspicious of the fluctuating prices on stock exchanges. They prefer to lend money directly to Western companies, buy control of companies not listed on stock exchanges, participate in joint ventures with Western firms, and buy real estate. There is a limit, of course, to how much capital such activities can absorb, and the oil producers will inevitably be tempted to go for a piece of the big industrial action...
...appearing in the center this week. Maybe some notion of the worth these students attach to the art they create as well as to the art they study will prick their faculty and administrators in the department of Visual and Environmental Studies; perhaps more than two teachers will lend active support to the next show...