Word: rimmer
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TIME's economists foresaw no big break in interest rates. Rimmer de Vries, senior vice president at Morgan Guaranty Trust Co. and a new member of TIME's board, predicted that the prime rate would fluctuate narrowly between 14% and 17% for the rest of the year. Said he: "We're in a stalemate. Congress will have to attack the budget deficit...
Many economists are starting to believe that the dollar has become overvalued and will soon begin to slip. Rimmer de Vries, an international monetary expert at the Morgan Guaranty Trust Co., predicts that the current account, which measures the net international flow of goods and services to and from the U.S., will swing from a $10 billion surplus this year to a $5 billion deficit in 1982. That deficit will in turn drive down the value of the dollar, perhaps by as much...
Delegates to last week's Washington meeting of the International Monetary Fund could find those gloomy predictions in the latest copy of World Financial Markets, the monthly newsletter published by New York's Morgan Guaranty Trust Co. Its editor is Rimmer de Vries, 51, the most respected private forecaster of world currency exchange rates and trade flows. Of the dozens of international bank letters, none has a more influential readership (25,000 select subscribers) than this slender (16 to 24 pages) pamphlet, crammed full of statistical tables and carefully crafted commentary. Says Manfred Wegner, a senior European Community...
...Player Randy Klein, who backs up Singer Graham, was moved to record a more conventional greeting after his ragtime ditty began drawing 300 calls per day. Graham is also deluged with calls. "People call from New York just to listen," he says. "It genuinely gives them joy." Author Robert Rimmer's (Thursday, My Love) phone rang almost continuously when word got around that his machine read back a passage from his book...
There are, however, reasons to question the notion that the oil producers' surpluses will stop growing soon. Economist Rimmer de Vries, editor of the Morgan Guaranty study, forecasts a 20% average annual rise by volume in imports by OPEC countries. But as the volume of imports grows, such a rate might well become increasingly difficult to sustain, especially for countries with primitive domestic economies. Armaments made up about one-tenth of imports last year. Shipments of war materiel cannot continue to increase -unless the selling nations are willing to take even graver risks that a conflagration will erupt...