Word: marketeers
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Dates: during 1960-1969
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Much in the manner of Charles de Gaulle listening to Britain's latest bid for Common Market membership, Congressman Wilbur Mills's Ways and Means Committee last week heard again the Johnson Administration's arguments for a 10% income tax surcharge. The answer, predictably...
...were based on an intensive, twelve-day tour of refugee camps and talks with hundreds of peasants and government officials. "Government jobs," said Kennedy, "are bought and paid for by people seeking a return on their investments. Police accept bribes. Officials and their wives run operations in the black market. Army vehicles are used for private purposes. Supplies disappear and show up in the bootleg stores on the street...
Recently, officials caught a South Vietnamese army unit that was actually running hot goods to Saigon's black market in an ambulance, complete with blaring siren. Even the chief of staff of South Viet Nam's 5th Division was caught using government trucks to transport U.S. rice to areas where it could be sold to the Viet Cong...
...Niamey, the tiny capital of Niger, the dust clouds rise at midday to nostril level. They made no exception last week for the 13 African chiefs of state who met there to discuss the future of their Afro-Malagasy Common Organization (OCAM), including efforts to persuade the European Common Market to renew their tariff concessions. There was something else in the air, however, that proved even more pervasive than dust: the unmistakable presence of France...
...Organization for Economic Cooperation and Development, the group agreed that the wherewithal to finance world trade will shrink by $4 billion over the next twelve months as a result of the British and U.S. retrenchments. That is precisely the amount by which the reserves of the six Common Market countries rose during 1967. Thus continental Europe, which managed only a torpid 2.5% economic growth last year, is in a strong position for a shift to deficit spending, government pump priming, and measures to hold down interest rates. By such means, marks, francs and guilders would help to replace the pounds...