Word: mightly
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Dates: during 1970-1979
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...also helped speed the rush to bullion, as did the perceived political weakness of Jimmy Carter and the threat of a challenge from Edward Kennedy. Some European dealers are calling the gold surge a "Kennedy rally" because it has been spurred by expectations that his free-spending, liberal policies might exacerbate U.S. inflation if he were elected. In the thin, highly volatile market, that distant worry is enough for a big rise...
...gold frenzy continues to weaken the buck, OPEC might again move to lift its dollar-denominated price of oil sharply. Uncertainty over just what the greenback will be worth in months ahead would slow much trade that is negotiated in dollars. Beyond that, economists disagree about whether gold itself poses any threat. Many believe, as Economist John Maynard Keynes said, that gold is just a "barbarous relic," a commodity like pork bellies that should have no more monetary impact than wampum beads. Yet in this real world, the bullion boom could ultimately prove highly inflationary...
...financial blood bank for the company might be the $300 million strike fund built up by the United Auto Workers. After the contract settlement with General Motors two weeks ago, that fund will not be needed to pay picketing workers, and Chrysler may try to borrow from it This week Chrysler will open its own contract negotiations with the U.A.W., and ways in which the union might help the automaker will be discussed. U.A.W. President Douglas Fraser rules out using the $300 million kitty, but may accept partly deferred wage or benefit payments in return for a voice in management...
...third that of the U.S., so traders sell dollars to buy marks and other currencies where they can earn a real return. This weakens the dollar. But if the Fed were to push U.S. interest rates another one-half of 1%, to 1% above the rate of inflation, it might lure some money back into greenbacks...
Managers who have found themselves embroiled in no-win squabbles with environmental and consumer groups might take some comfort in the problem facing the Blue Diamond Coal Co. of Knoxville, Tenn. It is being taken to court by, of all adversaries, an order of Roman Catholic nuns. Armed with 81 shares of Blue Diamond stock, the 750-member Sisters of Loretto, a teaching order based in Denver, last week joined twelve other parties in bringing a lawsuit against the company. The nuns' eventual aim, as one of them describes it: to urge the company toward greater "corporate responsibility...