Word: money
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Dates: during 1960-1969
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...mark, which had been undervalued. Taking into consideration the removal of the year-old 4% "quasi-revaluation" tax on German exports, Germany's actions last week, combined with France's devaluation in August, closed this gap and added a new stability to the world of money. England's Financial Times commented: "There is a better chance now than for many months past that the exchange markets will settle down to a quieter way of life...
...divisions; earnings from television have also suffered, and of the major divisions of the company only the music publishing business raised its profits. Apparently, MGM's creative people have lost touch with what the public wants in films. Last year nearly all the company's films lost money. MGM's last big hit was Doctor Zhivago...
...Money Famine...
...costly, the Government has choked off many of the sources of mortgage funds. More than any other U.S. industry, housing depends on private long-term credit. When interest rates rise rapidly, as they have this year, the financial institutions that normally provide most of the credit run short of money. Savings and loan associations and mutual savings banks have been hard hit by withdrawals; depositors have simply shifted their money out of savings accounts paying 5% and put it into Government bonds that offer an enticing...
...mutual savings banks could not afford to raise the rates they pay to depositors. The bulk of their assets is invested in 20-year to 30-year mortgage loans at the much lower interest rates of bygone years. Insurance companies, normally the third biggest source of mortgage money, have increasingly withdrawn from the housing field. Wary of inflation and eager to improve their profits, they are funneling most of their property loans into projects in which they become part owners...