Word: money
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Dates: during 1960-1969
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Demand for money is likely to remain very high indeed. For one thing, businessmen expect to spend some $73 billion, 14% more than last year, to expand their factories during 1969. "I am frankly disturbed by this evidence of how the collective decisions of investors may help to keep inflation growing," says Treasury Secretary David Kennedy. Because of the "multiplier effect" of capital outlays, each dollar of such investment adds about $2.50 to the total economy. The phenomenon worries Washington for two reasons: 1) it has an immediate inflationary effect, and 2) it could lead to industrial overcapacity followed...
Many businessmen are tied to spending plans formulated months ago. The rising cost of money has prompted U.S. Steel to review its $600 million-plus 1969 spending plans, but any cuts could not even begin to take effect until September. Before it crimps corporate spending, the monetary squeeze will spread unevenly through other sectors of the economy...
...former auto executive and Michigan Governor criticized Democrat Robert Weaver, his predecessor at HUD, for failing to develop programs to meet that objective. Complained Romney: "I have inherited a department that is essentially in the same condition as American Motors when I took over. It was losing money. Our department is losing ground...
...occupy an area twice the size of California. Because of federal limitations on logging operations and poor forest management techniques, the Government's holdings yield only a quarter as much timber per acre as private timberland. The Agriculture Department has long complained that Congress allows it too little money to manage better, even though the sale of timber to private lumber producers nets the Treasury substantial revenue. A lack of access roads causes as much sawtimber to be lost to storms and insect infestation as is harvested from national forests. Meanwhile, heavy opposition from conservationists makes any expansion...
...rows a boat on a sandy beach: "I haven't passed water in three days." Between them, Newley rants some chants that are mislabeled songs, appears more naked than his victims, and plots along in the hope that some day it will all make sense and money...