Word: nine
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Dates: during 1970-1979
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...nine, eight, seven...
Leif Olsen, a star economist at Manhattan's Citibank, points out that business borrowing from commercial banks in the first nine months of this year rose at an annual rate of 15.1%, and borrowing by households is also at a record high. Borrowing by Government to finance budget deficits adds to the demand. Alan Greenspan, a member of TIME'S Board of Economists, singles out mortgage credit as "a monster loose in the system," devouring money. People are not only borrowing to build new houses but taking out second mortgages on existing homes to finance spending of various types. During...
...fact on which there is no debate is that Japan's huge trade surplus with the U.S. is growing bigger all the time (see chart). The excess of what Japan sells in the U.S. over what it buys from America reached $9.3 billion in the first nine months of this year, and is expected to hit a record $12.4 billion...
...Japanese trade imbalance. This would happen if Japanese exports became more expensive and therefore less attractive to American buyers, thus cutting the cost of U.S. exports to Japan. To some extent, this has happened. For instance, Toyota's U.S. sales fell almost 8% in the first nine months of 1978, partly because prices of new cars were lifted 13.9%. Yet, overall, sales of Japanese exports remain strong in the U.S., while sales of American products in Japan show little new strength...
...decades since, with hammer, chisel and mallet, he has carved more than 100 heraldic shields, ornaments, pinnacles and corbels to decorate the cathedral inside and out; his last accomplishment is the royal coat of arms, 5 ft. by 5 ft., over the west doorway-a task that took him nine months. He also enjoyed a privilege few craftsmen have experienced since the Middle Ages. He was present to see his monarch, Queen Elizabeth II, preside over the dedication of Liverpool's Cathedral Church of Christ, 74 years after it was begun...