Word: millions
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Dates: during 1960-1969
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...nation's 110 million people are concerned, though, the most desperate need is a stable rice price, which Suharto has so far been unable to produce. Just in the past five months, a liter of rice has more than doubled in price (to 23?), and prices change from day to day-mostly upward. On the average, rice now costs the workingman 40% of his total income. It was rice, more than anything else, that was on the new President's mind when he admitted in his inaugural address: "The results achieved do not yet meet the wishes...
...parts of Latin America, Asia and Africa, long-term capital is scarcely available at any price, and great chunks of it are hard to come by in Europe. Last week the deficit-ridden U.S. Government had to pay the highest rates since the Civil War - 6.45% - to float $730 million in bonds (see BUSINESS). Double-A corporate bonds market for as much as 6.8%, twice as high as in 1955. On a $40,000 mortgage in Washington, D.C., the tag is 6.5%, plus a "discount" charge of two interest points ($800); in Los Angeles, it is 7% plus 1.5 points...
...cost of capital goods is climbing. Take airplanes: from $1,000,000 for a propeller DC-6 to $7,000,000 for a 707 jet to about $40 million for an SST. Modern superhighways cost more than $2,000,000 a mile. Chase Manhattan Bank Chairman George Champion notes that in U.S. factories, capital investment per production worker has risen from $550 a century ago to almost $20,000 today; in the petroleum-refining industry, the figure is more than $250,000. The capital investment in a medium-sized U.S. farm is about $80,000-double what...
...major exporters of capital-the U.S. and Britain-have lurched toward controls. Under newly tightened restrictions on foreign loans and investments, Washington hopes to cut the capital outflow by $2 billion this year. Eu rope stands to lose about $1.5 billion in American capital, Japan and Australia about $300 million between them...
...lure it out. Europe had hardly any mutual funds until an expatriate from Brooklyn, Bernie Cornfeld, started marketing them a dozen years ago. His Investors Overseas Services now raise more than $2,500,000 per day in new money, and by investing in American stocks, Cornfeld contributed $324 million in 1966 to the plus side of the U.S. balance of payments...