Word: soon
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Dates: during 1970-1979
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...lens never was found; but the Big Green soon was brought to its knees again when Ellen Jakovic crossed a short ball from the right side to Ferrante, who booted it into...
...close to 16%, making stock ownership on borrowed money extremely expensive, but it had a sharp psychological effect on the market. That was quickly compounded when Chase Manhattan President Willard Butcher, told a New Orleans press conference that the money markets were in such turmoil that banks might soon wind up having to recalculate their prime rates, "from 9 in the morning to 3 in the afternoon...
...then Treasury Secretary, W. Michael Blumenthal, strongly disagreed. He argued that the slowdown was only momentary and that demand for money and credit would soon be rocketing all over again. That is precisely what happened. With people increasingly following an impulse to "buy now before the price goes up," spending began to roar anew in midsummer. Consumers once again crowded into supermarkets and stores while businesses began to borrow at a breakneck clip...
Clearly, the Fed's efforts to get a grip on the money supply have come not a moment too soon. Liberal Economist Arthur Okun, who was chief economic adviser to Lyndon Johnson, is a consistent critic of fighting inflation with tight money, which inevitably slows economic growth and raises unemployment. Yet Okun says. "The Fed had to do something. It simply could not let those huge credit flows continue...
...point from 5% to 6%. The nation's banks in 1929 had built up a pyramid of foreign debt. National City Bank judged that Peru had a "bad debt record, adverse moral and political risk, bad internal debt situation"-and then lent the country $90 million that was soon defaulted. Wall Street banks today have $48.7 billion in loans outstanding to Peru and other oil-poor developing countries. Consumers in the '20s had just discovered the installment plan and were plunging into debt to buy radios, refrigerators and that new Model A from Henry Ford. Their grandchildren...