Word: leveler
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Dates: during 1970-1979
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...policy decision that henceforth the Federal Reserve will no longer concern itself with trying to manipulate interest rates, its traditional device for controlling the growth of money, and will just stop creating so many dollars instead. The Fed regulates the level of money in the economy by buying or selling Government securities through its so-called Open Market Desk at the New York Federal Reserve Bank. When the bank buys the securities, it pumps money into the economy; when it sells them, money is drawn out, and interest rates rise. The Fed is now saying that, within broad limits, interest...
...began huddling with their lawyers, looking for ways to circumvent the new rules. Reports TIME'S European economic correspondent Friedel Ungeheuer from Brussels: "The game of the week is finding loopholes in the Fed's effort to keep Eurodollars out of the U.S. Like water finding the same level in connected containers, an ocean of money can flow through even the smallest opening...
...onrushing inflation is actually giving the economy a kind of deceptively healthy glow. With money available in seemingly inexhaustible quantities, neither business nor consumer spending shows signs of slowing much at all. In spite of wide agreement among economists that the U.S. is already in recession, September's unemployment level fell to 5.8% of the labor force, down from 6% in August; that decline suggests that businesses are not just continuing to keep factory lines humming, but are even expanding their production in the belief that someone will buy almost anything they can turn...
...medium of fantasy, an author hopes to convince the reader not with the poignant accuracy of his images and characterizations, as in realistic fiction, but with the subtle, subliminal--but equally poignant--truth underlying the fabrication of plot and character. Kafka, Borges, Lem and Marquez succeed on this secondary level by treading a thin line between fantasy and realism--in The Castle, for example. Kafka's careful use of language preserves this ambiguity: the reader is never quite sure of what to accept as plausible, and what to reject as implausible, so that such a distinction ultimately loses all significance...
...third thing which I think they put a high premium on, is that they want order to be maintained and they want standards of living to be maintained at a high level...