Word: nationale
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Dates: during 1970-1979
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The Fed argues that its new system will enable it to keep a day-to-day eye on what really matters?the money supply?and to feed just enough new cash and credit into the economy to prevent a crunch. Yet something very much like a credit crunch may be...
But could that dreaded month when the bubble burst and the world plunged into a decade-long recession recur exactly 50 years later? Many conditions today look frighteningly similar to those of late 1929. Then the panic was spawned by the Federal Reserve's attempt to nip speculation by...
But Wall Street today is also very different from what it was a half-century ago. Then the market and the country were in an ebullient mood; optimism was king. The stock market law of gravity held that whatever goes up must go up again. During one day, RCA-the...
The Federal Reserve's dramatic tightening of credit will in time hurt every consumer who wants-or needs-to borrow for any purpose, from paying medical bills to buying a house. Says Saul Klaman, president of the National Association of Mutual Savings Banks: "Those who need credit most will...
Builders are in trouble too. On construction loans, they generally pay 2 points above the prime interest rate that banks charge their top corporate customers. That means builders are paying 16½% interest, vs. 15½% only two weeks ago. Various charges may bring the effective interest rate to a...