Word: thrifting
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...thinking to myself how perfectly they got their own back, Keynes by inventing an economic theory which, after a period of spurious prosperity, must infallibly bankrupt the countries which adopt it, and Strachey by overturning the gods of the Victorian age, and with them the virtues such as thrift, hard work, integrity and truthfulness which they symbolized...
...associations. This shift away from shares could further damage capital formation; companies ideally tend to raise long-term investment money in the stock and bond markets but go to the money market for short-term borrowings to cover operating expenses. The move out of savings is badly hurting the thrift institutions. They face a tremendous competitive disadvantage and a sharp outflow of funds because the Federal Reserve's Regulation Q prohibits them from paying more than 5½% on passbook savings. A bill before the Senate would slowly phase out the interest rate ceilings by 1990. Meanwhile, says Robert...
...promptly engineered a merger between his craft unions and the industrial unions of the CIO, producing a national labor movement with the muscle to back up its demands. Yet he remained more practical than ideological, a champion of "the American way of life"-thrift, sobriety, patriotism and perseverance. Meany remained an unrepentant hawk; he had battled Communist labor unions in Western Europe after World War II, and he supported the Viet...
Democrat Arthur Okun complains that the Fed has lost much of its control over credit policy as a result of innovations, such as money market certificates and mortgage-backed securities, that are designed to keep banks and thrift institutions flush with funds for home loans. Says Okun: "Money is easy but expensive, and nobody is saying no to any borrower. They're saying, 'The price is high. Won't you take...
...European thrift mentality may not be immediately apparent to tourists, but it is strong. Do-it-yourself repairing is popular, meatless days are common, fast foods are rare, and big ticket appliances like washers, dryers and dishwashers are not considered necessities. Shopping is done carefully, with the emphasis on price and quality. Cars may be expensive, but they will be owned for nearly a decade and revitalized with new engines rather than traded in after three years. Executives may buy an expensive tailor-made suit, but it will be made to last seven or more years. Foreign holidays...