Word: outflows
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Dates: during 1960-1969
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...economic problems have troubled John Kennedy more than the U.S. gold outflow-the steady erosion of the nation's gold reserves by foreign claims. Early in his Administration, the President determined to make a concerted drive to stem the flow. That determination remains. But many businessmen and economists are concerned about whether the Administration is actually doing enough to stop a long-term outflow that could eventually drain the nation's reserves to a perilous level and destroy international confidence in the dollar...
...steady gold outflow is caused by a huge and continuing deficit in the U.S. balance of payments, reflecting the fact that the U.S. spends and lends (and gives) more abroad than it takes back home. Though the Kennedy Administration has measurably improved the balance of payments by various methods (including encouraging exports and limiting tourist purchases abroad), the situation is still serious. This year's balance-of-payments deficit is expected to reach at least $1.5 billion, a billion less than last year's but a good $500 million more than the Administration had hoped...
...Sport. While the Wall succeeded in stemming the human outflow that has cost East Germany more than 2,000,000 of its citizens since 1953, it has also closed the only safety valve of East German discontent. Unable to escape except at great risk, the population can only feed on hatred and resentment. Existence behind the Wall, said a newly arrived refugee in the West last week, "is like too many people living in too small a house." Another fugitive reported East Berliners' favorite sport these days is to pick out the Communist officials they would most like...
Steel Corp.'s Chairman Roger M. Blough, to head a businessmen's committee to pro pose ways of dealing with the U.S.'s gold outflow. Last week, to show that he can be tough on labor too, he publicly condemned a threatened strike by airline flight engineers (see following story). Bobby Kennedy recently invited 15 big businessmen to lunch, attempted to persuade them that his brother is not really hostile to business. But he - like his big brother -felt compelled to warn them that continued hard feeling on their part might lead to presidential hostility...
investors, as nothing else has, the fact that the momentum of inflation has been stopped-and that the Administration is committed to keep it that way. All the debate about increased foreign competition, about gold outflow, and the narrowing of profit margins that the steel hassle aroused made it clear to the nation that the green years of automatic growth, plump profits and U.S. dominance of world business were at least temporarily ended...