Word: slides
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...international finance. Since 1970, some $650 billion has piled up in so-called Eurodollar accounts in banks overseas, and the threat is ever present that holders might stampede to sell their dollars. Since 1971, minipanics have led to the collapse of worldwide fixed exchange rates against the dollar, the slide of the dollar against gold and other precious metals, and the progressive disintegration of global confidence in the dollar itself...
...Somebody who starts a rock slide does not have to be accountable for every last rock that hits a victim. The coup was heavily Communist in its organization, and since then the Soviet Union has taken operational control over many aspects of Afghan political life. That fact had an extremely unsettling effect on the Iranian government, which interpreted our acquiescence in it as potential collusion between us and the Soviet Union in creating spheres of influence. It also had an unsettling effect on Pakistan. I do not want to imply, though, that there was much we could have done about...
...most anticipated recession in history has arrived earlier and with a more forceful jolt than expected. Instead of the gradual slide that economists were predicting would begin in midsummer or early fall, the second-quarter gross national product fell at a substantial annual rate of 3.3%. Most forecasters had anticipated that the downturn at worst would bring a decline of 2% or so. In a confidential revised forecast last week, some top governmental economists conceded that the slump will be worse than anticipated this year and will be followed by an "anemic" recovery...
...deals are closely watched by OPEC members for signs that the cartel's long-term prices could be increased. Spot prices have eased from a peak of $42 per bbl. in late May to about $30 to $32 per bbl., but fears of production cuts have stopped the slide...
...Deprived of top-level advice, foreign money managers followed their instincts and bought some dollars to head off any major upset in the international exchange markets. The Federal Reserve Board also poured some $2 billion into the foreign exchanges to buy dollars, and at week's end the slide was stemmed. Still, in the past month the dollar has lost roughly 5% of its value against the West German mark, Swiss franc, French franc and British pound...