Word: panic
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Dates: during 1970-1979
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...began I had never before backpacked more than three days at a stretch. Likewise, I had never been as strong physically, or as comfortable with the equipment strapped on my back or as confident in the ability of one part of my mind to suppress the fear and panic that could crop up in its other parts...
...rush to buy foreign exchange. Since September, an estimated $3 billion in bank deposits has been transferred by wealthy Iranians to accounts abroad. Rumors that the government will limit the flow of money?a move that it probably should have taken months ago?only served to spur the panic flight of capital, which last week was said to be running at the rate of $50 million a day. Meanwhile, inflation, already one of the major sources of discontent, is expected to spiral upward another 10% to 20% in the next six months as a result of wage increases and mounting...
...Federal Reserve Board and the central banks of Germany, Switzerland and Japan did in fact buy up enough dollars to hold the price well above the lows established in the pre-Halloween panic. But it was clear that the dollar has not yet developed any upward momentum of its own, and will not until Carter can convince the hard-bitten cynics of the exchange markets that the U.S. is prepared to follow a tough anti-inflation policy as long as may be necessary. Said Walter Seipp, vice president of the Westdeutsche Landesbank in Düsseldorf: "Everything depends on whether...
...higher interest rates, which lead to higher prices for a while. In time, however, the stringent money policy will force inflation down and push the dollar up. What scares Whitman is that the turn to a more stable world monetary system may not come soon enough. People may panic and retreat behind walls of protectionism. Says Whitman: "There is an increasing sense that the postwar dream has failed, and that the only hope is to form regional trade blocs, with every bloc for itself." Europe's Common Market is one of the great imaginative ideas of the 20th century...
...effects on Harvard centers around exactly how much they would restrict the University's budget. Robert E. Kaufmann '62, associate dean of the Faculty for finances, said yesterday the guidelines add "a new dimension to our budgetary planning, but they do not put us into a state of utter panic and siege...