Word: nationalizes
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Dates: during 1970-1979
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...relax import restrictions on foreign beef in order to increase supplies at meat counters. Since there is presently no world surplus of beef anyhow, lifting restrictions would probably bring in no more than 250 million Ibs. of beef on top of the 1.3 billion Ibs. that the nation already imports from Australia, New Zealand, Canada and ten other countries. That would trim perhaps only a nickel a pound off the price of beef by year's end. Even so, Agriculture Secretary Bob Bergland is fearful that an abrupt lifting of controls could have a disastrous psychological impact on ranchers...
...earth would Congress at a time when food prices are soaring rush to raise artificially the price of a basic supermarket staple? Yet that is just what is happening to sugar. Moreover, the congressional effort is designed to bail out far fewer than one-half of 1% of the nation's farmers, specifically 11,000 sugar-beet growers and 1,800 raisers of sugar cane...
...main drawback with the certificates is that they are themselves inflationary. Explains M. Todd Cooke, president of the Philadelphia Saving Fund Society, the nation's largest mutual savings bank: "Money is our raw material. If we have to pay depositors more to get it from depositors, then the cost of one of our products?mortgage loans?is also going to have...
Rumors have been swirling for months through business circles from Wall Street to Houston: Gulf Oil Corp., the nation's eighth largest industrial concern (sales last year: $17.8 billion), is in trouble. Though there is no question about the company's survival, it is in the midst of a painful struggle to overcome years of bad luck and fumbling management...
...Northern attitude is myopically stingy. Almost every industrial nation is caught in an economic bind. Unemployment is unacceptably high, yet efforts to bring it down by stimulating the domestic economy through tax cuts and heavier government spending might pump up already high inflation. Selling more goods to other industrial nations is no answer, either. It leads to furious charges that the exporting country is destroying jobs in the importing nation; witness the anger in the U.S. and Europe against Japan's export prowess...