Word: poundingly
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Dates: during 1960-1969
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...entrepreneurs had run short of ideas, so the liveliest moments came with the so-called "fruit bowl" game, in which contestants tried to break balloons by rocking up and down in an animal cutout. The German team won the $12,150 grand prize. Runner-up France received a 200-pound salami, compliments of the Bardenberg sausage industry...
...like a quack dispensing dubious pills. Unemployment climbed to a 27-year peak of 559,000 last month, and that total is generally expected to reach 750,000 by winter. Industrial production has stagnated for nearly a year. Foreign-exchange earnings, the crucial source of support for the British pound, have risen, but at a disappointing rate. Under increasing critical attack both within and without his own Labor Party, Wilson last week called up a surprise reinforcement: himself...
...determined to pursue British membership in the Common Market, which Jay bitterly opposed. And by keeping James Callaghan as Chancellor of the Exchequer against the expectations of many political analysts, Wilson again signaled the West's financial community that he stands by his vow not to devalue the pound...
...truck was cut from 30% to 25%, on appliances from 33% to 25%. But even the government agreed that the move was only a nibble at Britain's knotty economic problem: how to resume its growth without inflation, and without attracting a flood of pound-imperiling imports. Harold Wilson is clearly confident that his economy is ready to rebound, but that is a lonely view in London...
What had happened was that representatives of the Group of Ten,* meeting in London, after years of haggling had agreed on a way to revamp the free world's overworked, undercapitalized monetary system. Basically, the plan would create artificial reserves to supplement gold, the dollar and the pound. Known as SDRs (for "special drawing rights"), they are, in effect, little more than bookkeeping entries supported by the prestige of the International Monetary Fund. Members of IMF must agree to pledge their reserves to back up the SDRs, but they will not actually make additional contributions...