Word: money
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Dates: during 1960-1969
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...face of it, the space flight had little pertinence to the problems, the agonies of earth. It was possible to look at the moon over a Harlem or Watts rooftop and feel only bitterness at the money spent, the vast effort made, in a cause that would not alter a single life, a single dwelling in the ghetto. And yet the event was really incalculable in its consequences. Nothing comparable has happened in man's history, except possibly the great ocean voyages that led to the discovery of the New World -and to the transformation of Western...
Trouble in the Money Markets...
...money supply expanded at an annual rate of 8% during the year's first half. Even after the midyear tax increase, the Fed's governors continued to ease credit because, like most other experts, they misjudged how quickly the surtax would begin to brake the economy. In the last three months, the Fed has changed course, holding the increase in the money supply to a moderately constrictive rate of 3.8% a year...
...year's end, a severe money squeeze was developing. Blue-chip businessmen had to pay 6¾% for prime loans, another alltime high, and many home buyers were paying well over 7¼% on mortgages. Bond yields rose so swiftly that scores of corporate and municipal borrowers postponed or scaled down the size of new issues...
...trend toward tighter and costlier money-combined with expectations of continuing inflation-portends trouble in the U.S. securities markets. Bond dealers are afraid that even the high yields on fixed-interest securities are too low, relative to the rate of inflation. These dealers figure that they may have a tough time floating the issues that industry needs to expand and modernize. With somewhat less justification, stockbrokers worry that investors will switch out of stocks and into bonds because the difference in yields is so enormous. This month, the average yield on Triple-A corporate bonds climbed to 6.47%, while...