Word: prices
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Dates: during 1960-1969
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...look on inflation as a temporary wartime phenomenon," said Irving Rose, president of Detroit's Advance Mortgage Corp., before a convention of mortgage bankers recently. "I regard it as the inevitable price of our national commitment to a full-employment economy. Hence, it is chronic. The fever may abate somewhat from time to time, but it will never...
...crisis has been long building. In a current book, The Price of Money, Sidney Homer and Richard Johannesen date the bear market in bonds from 1946, when high-quality corporate debentures sold at interest rates of 2.45%. But the rise in rates and the concurrent drop in bond prices have speeded up enormously since the current inflation began in 1965-and especially this year. Last week, for example, the New Jersey Turnpike Authority sold $137 million worth of bonds at a tax-free interest yield of 7%, compared with a 5⅞ yield on bonds that it had sold four...
...International Nickel Co., the world's largest producer, followed an expensive settlement of a 128-day strike at its Ontario mines by announcing a 24% price increase. The move is bound to have major effects in the U.S. Stainless-steel producers, who use 37% of all nickel, are expected to increase prices shortly, for the third time since January. From nickel-plated auto bumpers to jet engines, many products are sure to cost more...
...face of such widespread price increases, businessmen are continuing to boost their capital spending budgets, figuring that they had better invest before prices go up still more. During this year's third quarter, according to the National Industrial Conference Board, capital budgets of the nation's 1,000 largest manufacturers went up at an annual rate of 3.7%. That was not as big a rise as the 13% increase in the second quarter, but a rise nonetheless. Before businessmen bet less, the Administration will have to show them more convincing evidence that they are going to lose...
...after Thanksgiving, no pickets showed up in major cities, though the unions promise that there will be many this week. Its determination is a sign of the growing bitterness in U.S. labor relations. Union men, whose pay raises in the past few years have barely kept pace with price boosts, increasingly feel that corporations and the Government are taking advantage of them by urging the acceptance of moderate wage hikes as part of the fight against inflation...