Word: stops
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Dates: during 1970-1979
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...seems somehow fitting that the Dalai Lama's last stop in the United States should have been at the country's oldest university, which the Chinese call the "University of the Laughing Buddha." Carrying with him centuries of Eastern wisdom he expressed his deep gratitude to America for her hospitality, and said the U.S. has a vital spiritual-historical role at this time. Since the U.S. is the world's most materially successful nation, Tibet, a spiritual society and America's opposite image, has a lot to teach. A journalist at the press conference last week asked for a concise...
...policy decision that henceforth the Federal Reserve will no longer concern itself with trying to manipulate interest rates, its traditional device for controlling the growth of money, and will just stop creating so many dollars instead. The Fed regulates the level of money in the economy by buying or selling Government securities through its so-called Open Market Desk at the New York Federal Reserve Bank. When the bank buys the securities, it pumps money into the economy; when it sells them, money is drawn out, and interest rates rise. The Fed is now saying that, within broad limits, interest...
...buyer had to put down only 10% of his own money to get a stock; he could use credit for the rest. Today, under a Federal Reserve rule, customers have to put up at least 50% of their own funds. The Fed can also slow bank credit to stop speculation from feeding a boom, a step it took last week. In addition, there was no watchdog Securities and Exchange Commission in 1929 (it was set up in 1934). Today the SEC closely polices financial markets to stop inside dealing and fraudulent company reports, which were rampant...
...policy of relying primarily on money-supply policy to combat inflation, he proclaims himself "not horrified" by Volcker's actions. Okun fears that "interest rates could become so unstable as to be a major source of disturbance in the markets," but hopes that businessmen will now stop an inventory buildup that he judges to be troublesome...
This recognition is the source of Lessing's strength. As interested as she has become in grand designs or configurations of enormous powers, she does not forget the here and now. She will still pause for moments of liquid beauty, stop to portray a sliver of the moon reflected in a dusty courtyard pool in Morocco. Shikasta invites argument. There is something unsatisfying about a vision of history that suggests humans could not, after all, help making the messes they have, that their blunders were all ordained by a small tic in the cosmos. But belief in Lessing...