Word: savers
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...Aimee Semple McPherson, soul-saver, returned to the U.S. (via Paris) from a trip to the Holy Land, with Bibles, lamps, some Palestinian garments (to wear in the pulpit of her Angelus Temple Church of the Foursquare Gospel) and bright yellow hair (it was reddish when she left the U.S.). While she whirled away on a 200-mile week-end trip through the Catskills, U.S. Customs agents checked her luggage, levied $138 against her in duties and penalties for undeclared imports. Sister Aimee bemoaned: "I never dreamed . . ." etc. Asked if she would pay, she replied: "Oh yes, if the country...
...been a saver since the fourth grade, I read with interest your article on the growing demand for a consumption tax [July 18]. I am sick and tired of a society that penalizes those like me who are thrifty. Worse, our nation's lawmakers reward my fellow citizens who indulge in big spending frivolities by not slapping them with a consumption tax. Our politicians should face up to the need for restructuring our tax system. It is no wonder that the middle class finds foreign bank accounts more and more appealing...
...that, like a slow fuse, will finally ignite the gag. Dick Cavett, who worked for Carson as a writer, recalls that Carson "made a point of bombing and making it funny. Sometimes you'd write strictly for that. You'd set up one baddie, just for the saver." A lot of comedians have done this, but none has raised the art to such rococo refinements as Carson, who can now paralyze an audience with one-liners that would get lesser comics boiled...
During periods of disinflation, the wise consumer is a saver and lender, not a spender and borrower. No longer does it make sense to go into debt to buy things because Joans can be paid off later in cheaper dollars With a 16.5% prime rate, borrowing is very expensive. And since prices are rising slowly, there is little chance that the item bought will be worth a lot more in the future. Says Joel Crabtree, a senior vice president of Chicago's Continental Illinois National Bank & Trust Co.: "There's less premium on holding hard assets, like diamonds...
...recent years, both the way people save and the way the Federal Reserve does its job have undergone radical changes that help explain what is happening to interest rates. A decade ago, the typical American saver was content to earn 4½% or less in a passbook account, which was the maximum allowed by law. In the 1970s, double-digit inflation arrived, and the passbook account became a bad deal. Money quickly lost its purchasing power when it was saved at 4½% interest while prices rose at a 10% clip...