Word: steep
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...particular, there will be a continuing need for the U.S. to finance its unacceptably large trade deficit by borrowing money from investors in other countries. If those investors balk at any time, the result could be another sharp decline in the value of the dollar, accompanied by a steep rise in U.S. inflation and interest rates. That could lead to a worldwide recession and a renewal of the Third World debt crisis. Such economic turmoil would cause severe disruptions in financial markets, which have yet to recover fully from last October's debacle...
...certifiable American eccentrics. So says David Weeks, a clinical psychologist at Royal Edinburgh Hospital in Scotland, who has just published a scientific study of 130 British oddballs, past and present. Among them: Samuel Johnson, the rotund 18th century author who amused friends by rolling down steep hills, and Prince Charles, who talks to plants, if not to his wife Princess Diana. The British study, however, is only a warm-up for a nearly completed analysis of 800 American eccentrics. The tentative conclusion: the U.S. has displaced Britain as the uncontested eccentricity capital of the world. Declares Weeks, a native...
American demand for foreign consumer goods remains strong, however steep their price tags. At a meeting in Paris last week of the Organization for Economic Cooperation and Development, top European officials pointed to excessive consumption as the chief cause of the U.S. trade deficit. Nigel Lawson, Britain's Chancellor of the Exchequer, called for a "slowdown in the growth of U.S. domestic demand, which in these circumstances is rising uncomfortably fast...
...Greenspan strives to curb prices, he will have to watch for trouble in currency markets. A further steep decline in the value of the dollar could fan inflation, since it would cause new increases in the cost of imports. Greenspan apparently hopes to avoid that by allowing a modest rise in U.S. interest rates, which will make dollar-denominated securities more attractive to foreign investors...
...miracle of cyclosporine comes at a steep price. The drug can cause severe damage to the kidneys as well as allow cancerous tumors to develop. Moreover, cyclosporine costs as much as $6,000 for a year's supply, and patients may need it for life. Still, declares Calvin Stiller, chief of transplantation at University Hospital in London, Ont., "cyclosporine clearly stands out as the most important medical discovery in transplantation. It changed the field...