Word: prop
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Dates: during 1970-1979
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...program together adroitly, with a sense of drama that won cheers from the world business community and provoked the most volcanic response on financial markets since Richard Nixon's surprise announcement of a wage-price freeze in 1971. The essence of the program: massive intervention on exchange markets to prop up the dollar and a switch to a really tough anti-inflation policy...
...failed to halt an inflationary increase in the U.S. money supply. So those who sold dollars regarded the sales as a can't-lose bet. Their thinking: So what if the dollar is undervalued? It will probably go down some more, and Washington won't buy dollars to prop up the price. Get out of dollars and buy yen, marks, gold, anything...
...urged them to increase output by planting "fence to fence," and set target prices far below market quotes. He got away with it because rocketing export demand permitted farmers for a year or two to sell everything they could grow at prices that the Government did not have to prop...
...marketing specialists. Nearly all crops these days must be sold on the private market. Washington will make cash payments to farmers if market prices fall below Government-set "target prices" that supposedly cover most?not all?production costs. But no longer will Uncle Sam buy and store crops to prop the price; federal purchases these days are limited to small amounts for foreign aid, school-lunch programs and the like. Instead, the Government encourages farmers to store on their own land any produce they do not want to sell immediately, by offering low-interest loans to build storage facilities...
...state apparatus to augment his personal fortune, was logically enough fervently anti-communist. Given Somoza's anti-communism, Nicaragua's strategic position in the heart of Central America, and the possibility of building a second transisthmian canal through Nicaraguan territory, the U.S. was more than happy to prop up the Somoza regime both militarily and economically...