Word: propping
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Dates: during 1970-1979
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...nowhere near as politically sexy as trying to knock down inflation or prop up the dollar, but Jimmy Carter has another tough economic imperative on his hands: dealing with the trade deficit. Until the late 1960s, the U.S. routinely piled up comfortable surpluses almost without trying. Since then, rapidly rising imports of oil and manufactured goods combined with the relative slackening of the sales of American products abroad have tipped the trade balance perilously out of kilter. In the past three years, the excess of what the U.S. bought over what it sold abroad rocketed to a total...
...views. Flink, constantly mindful of the time limit, is quick to offer press releases instead of answers. Giamatti begins to deplore the situation in South Africa and says he agrees in principle that universities and banks could demonstrate their feelings by divesting of their investments in American corporations which prop up the white minority government. He adds, however, "everyone has ethical responsibilities, but one wants to balance them. Divestiture is not the best way to bring about change in South Africa." The reasons behind his answer, he says, are best explained in the Yale Corporation report, which bears a marked...
Policymakers in Washington and other Western capitals are in as excruciating a dilemma as Amin. Do they offer aid to prop up a shaky regime ?which then might drop in the Russians' lap? Or let the government collapse?and risk a widening guerrilla war in an unstable region? Moscow, which has waited patiently since the time of the czars to consolidate its hold, faces no such agonizing choice...
...clear that it was serious. In background sessions with newsmen, Administration spokesmen outlined a three-pronged program. First, they said, the Federal Reserve Board would be taking steps, in concert with other central banks, to strengthen the greenback, and had already been moving "more actively" in buying dollars to prop up their price. Second, the Administration would step up efforts to get Congress to pass Carter's energy program, which would reduce oil imports and thus stem the drain of dollars out of the U.S. Indeed, Carter personally lobbied House members to work out a compromise...
What can the U.S. do to prop up the dollar? In the long run, only a drop in the inflation rate (currently about 11%) and a further reduction in the trade deficit will do the trick. But there are some immediate actions that could be taken, though all involve difficulties and risks. The U.S. could...