Word: rising
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Dates: during 1960-1969
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...tough-mindedness was bound to get Li into trouble with fervent Maoists. During the Cultural Revolution, Red Guards threatened to "bombard" and "burn" him. Protected by Chou, one of his closest associates, Li survived. With strong links to the army, government and party, he is in a position to rise still higher, in spite of his personal crudeness. A man who loves spicy food and hot chili peppers as much as he despises table manners, Li was once addicted to opium. Since breaking the habit, he has become a heavy cigarette smoker...
Fictional Rate. That pressure last week brought a further rise in interest rates from their already towering levels. High-grade utility bonds were offered in Wall Street at a record 8.9% yield. William F. Butler, vice-president of the Chase Manhattan Bank, says that banks are refraining from raising their 81% prime rate on business loans only because they fear "the wrath of Congress." The prime rate is an increasingly unreliable guide to borrowing costs anyway. Growing numbers of borrowers pay as much as 10.6% interest on loans officially made at the prime rate, because banks are strictly enforcing...
...class and wealthy, the two analysts maintain. They have rejiggered the figures in the Government's consumer price index, which is largely based on middle-class spending patterns, to construct a "poor price index"; it gives more weight to increases in food and rent expenses, less importance to rises in clothing, transportation, medical and education costs. Between 1965 and 1967, the last year for which they calculated the poor price index, it rose 5.1%, compared with a 5.8% increase in the CPI. The Wisconsin researchers conclude that "the poor are not hurt by inflation"-but could be hurt badly...
...suggesting that inflation is the enemy of the poor. It may be their friend in employment terms." Some Government figures buttress the argument. For example, 800,000 of the 5,800,000 U.S. families that were officially defined as poor in 1966 had increased their incomes enough to rise above the poverty line last year. Their gains were achieved even though inflation had meanwhile pushed the poverty line up from $3,317 in annual family income in 1966 to $3,553 last year...
...Davis, an ex-officio member of the commission, who has been accused of being too cozy with insurers. In the wake of the storm, the commission hastily approved a 50% rate increase along the Gulf. Last week public outcry and political pressure prompted the commission to postpone the rate rise until after it holds another hearing. Considering the $135 million in storm losses they face, insurance companies may be justified in raising their rates. The delays in claim settlements, however, have left a bitter residue of ill will among countless citizens of Mississippi and Louisiana...