Word: richard
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...Bretton Woods system itself collapsed in 1971, when President Richard Nixon severed the link between the dollar and gold - a decision made to prevent a run on Fort Knox, which contained only a third of the gold bullion necessary to cover the amount of dollars in foreign hands. By 1973, most major world economies had allowed their currencies to float freely against the dollar. It was a rocky transition, characterized by plummeting stock prices, skyrocketing oil prices, bank failures and inflation...
...forced to abandon its current easy-money policies sooner than expected, in part because of the looming budget realities of big entitlement programs like Social Security and Medicaid. But for now, big spending will continue to be the order of the day. "There's a recession," says Richard Kogen, a senior fellow at the Center on Budget and Policy Priorities who spent 21 years as a staffer on the House Budget Committee. "Recessions temporarily increase the deficit. A couple of years after they're over, everything returns to where it was before." The next President no doubt will be hoping...
...works include two sculptures by Brancusi, Picasso’s 1918 “Harlequin Playing the Guitar,” and Mirò’s 1945 “Woman in the Night.” The donation also contains pieces by contemporary American sculptors Richard Serra and Joel Shapiro, giving viewers the opportunity to see the work of living artists...
...perhaps no surprise that the Al Smith Dinner, which gives candidates the chance to hobnob with Catholic opinion leaders just weeks before an election, became what Theodore White called "a ritual of American politics." John Kennedy and Richard Nixon were the first contenders for the White House to share the dais at the event in 1960. Over the next two decades it was a standard campaign stop, a light-hearted evening to honor the memory of the first Catholic to win a major party's presidential nomination...
...would say that most of the American public believe that bacterial infections were conquered with the discovery of penicillin and streptomycin and that the dawn of the antibiotic age meant the end of bacterial infection as an important threat," says Richard Ebright, a Howard Hughes Medical Institute investigator at Rutgers and a co-author on the study...