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Usage:

...contrast with 7,757 in 1979. Small business is suffering especially hard. Last year, for example, 1,600 auto dealers had to close up shop because they were squeezed between high interest rates and low sales. Many people starting new companies are being forced to retrench. Don Middleberg, who is chairman of his own New York advertising and public relations firm, put off the purchase of a badly needed $16,000 word processor last month after his bank had jumped the lending rate from 12% to 22% in just eight weeks. Said he: "High interest rates...

Author: /time Magazine | Title: An American Nightmare | 1/19/1981 | See Source »

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