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...clientele and aggressively hold onto it. A German broker seldom phones his customers-and charges them 20 pfennigs for each call when he does-but the U.S. brokers are always on the phone with suggestions and send out as many as eight research reports a month. Many governments restrict trading in U.S. stocks; Britain imposes a 4¼% tax on it, and countries as diverse as Chile and Denmark flatly prohibit it. Imaginative investors, however, usually can slide around the restrictions. The main reason for their interest is that, despite the recent weakness, the U.S. stock market...

Author: /time Magazine | Title: Investment: All Roads Lead to Wall Street | 3/11/1966 | See Source »

Varied Voluntaryism. For the moment at least, the Johnson Administration continues to rely most heavily in its fight against inflation on the guidelines that request both U.S. management and labor to restrict themselves-"voluntarily"-to price or wage increases of no more than 3.2% a year. The Administration has established two rather different varieties of voluntaryism. Whenever a major U.S. industry starts getting out of line on prices, Washington rams it back into place. When a union fractures the guidelines in its successful wage demands, the White House seems to be looking the other...

Author: /time Magazine | Title: The Economy: The Spiral Cloud | 2/25/1966 | See Source »

...hope that our Government will restrict our military operations in Viet Nam to the minimum necessary to assure the security of our forces and to maintain our military presence until we can achieve a satisfactory peaceful resolution of the conflict. There is more respect to be won in the opinion of this world by a resolute and courageous liquidation of unsound positions than by the most stubborn pursuit of extravagant or unpromising objectives...

Author: /time Magazine | Title: Nation: FROM CONTAINMENT TO ISOLATION | 2/18/1966 | See Source »

...tarnish it, if we sully it, if we transmit it to the next generation in impaired form." Mansfield countered with harsh words. He decried "the resentments, the irritations, the vendettas and the whatevers against organized labor" that had prompted the talkathon. Noting the Senate's historic reluctance to restrict debate, Mansfield reasoned: "The Senate will not gag itself by voting to adopt cloture. On the contrary, if the Senate does adopt cloture, it will free itself from the passion and perversity which, since the end of the last session, have held this institution in a deadly strangle hold...

Author: /time Magazine | Title: The Congress: R.I.P. | 2/18/1966 | See Source »

Thus far, the emphasis in dealing with the water shortage has been to restrict usage. This has been done on an honor system, backed up by threats of water meters and stopgap measures like the rationing of water for air-conditioning units. There is, of course, nothing wrong in advocating economical use of existing water supplies, particularly when it is coupled with a sincere effort to stop leaks in the water system. What is fatal, however, is the assumption that these temporary measures are the final solution. No one would like to see tax-burdened New Yorkers saddled with another...

Author: NO WRITER ATTRIBUTED | Title: Meeting the Water Shortage | 2/9/1966 | See Source »

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