Word: surpluses
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Dates: during 1970-1979
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While OPEC becomes richer, the rest of the world will grow poorer. For example, suppose oil hits $30 before the end of next year. Instead of a projected balance of payments surplus in 1980, the U.S. could wind up with a deficit of $15 billion, further weakening the dollar.* Overall, the combined balance of payments deficit for all industrial nations would climb from this year's $16 billion to perhaps as much as $40 billion in 1980. Developing nations would be hurt worst, since many of them have no exports of real value to count on at all. Their...
...outlook is clouded for OPEC itself, especially for the so-called dollar-surplus states of Saudi Arabia, Kuwait, the Emirates and Qatar, which together hold more than $90 billion in U.S. dollars and other U.S. financial assets that will continue to slip in value as the cartel's prices climb. These surplus states probably will not go along with any effort to dump the dollar as the currency of the world oil trade, a move that would undermine the value of the greenbacks they already hold. But Iran and Libya are urging OPEC to switch from dollars...
Your Money by Richard Phalon. The reader who follows all of Phalon's advice may or may not "minimize his tax bite and manage himself into a surplus" as the author promises, but he will have had a good time for his $8.95. Explaining that loan rates can be negotiated, the Forbes magazine editor urges readers to take a firm stand with their bankers: "Insert the term 'banking relationship' into the conversation like a nicely greased thermometer and mention the imposing size of your checking and savings account balances. If that doesn...
...surplus of ivory coming out of the Congo prompted the Belgian government to offer the material free to sculptors. Many accepted, and the ivory statuette soon stood tall in the art deco movement. Isadora Duncan by Alberto Savinio (Franco Maria Ricci; 184 pages; $125) shows just how exquisite some of these miniature sculptures became. All works pictured here were inspired, in one way or another, by the blithe spirit of American Dancer Isadora Duncan. Artists like Demeter Chiparus and Friederich Preiss, whose names are familiar today only to collectors, shaped ivory as if it were butter; the dancing figures they...
Although the team lacks a surplus of two-milers, co-captain Kat Taylor promises to pace the Crimson in this event...