Word: surpluses
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Putnam said the Faculty's financial situation has improved in the past three years. The Faculty lost nearly $2 million in 1975, but showed an $800,000 surplus in 1977, he said...
Abandoning the near-Olympian distance he had maintained up to now from the bitter political skirmishing, Giscard attacked the left headon. Pointing out some of the successes achieved by Premier Raymond Barre's policy of cautious stimulation-a December trade surplus, four months of falling unemployment and a slowing rate of inflation (0.3% for December)-Giscard argued that only the center and right were capable of leading the country out of its lingering economic malaise. "If we want to be cured," he thundered, "we must choose the right doctor. If we choose the easy way out, the economy will...
...monumental 1976 trade deficit of $6 billion was more than halved last year, while the 1977 balance of payments produced a $2.3 billion surplus. But this was accomplished by imposing stiff credit restrictions and astronomic lending rates of up to 22%. The result: a further slowdown in business activity...
...food grants of commodities like wheat. "It's sort of a welfare state," says silvery Erwin Can-ham, the Marianas' resident commissioner and a former editor of the Christian Science Monitor, who will return to the U.S. later this month. "If I tried to eliminate the free surplus commodities, I'd have a lynch mob down here...
...Japan, two "locomotive" economies, to speed up growth. Since Japan is already trying to stimulate its economy, the obvious target of the OECD appeal is West Germany, which has consistently rejected expansionist economic policies. At the same time, West Germany has built up a giant $16.7 billion trade surplus that has left the deutsche mark vulnerable to revaluation on the world's money markets. Indeed, because of the recent slide of the dollar, the increased value of the mark is beginning to crimp the country's exports. If West German consumers could be encouraged to spend more...