Word: thrifts
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...find a new language in which to couch his orientation toward investment and corporate well-being. Hence, Simon the Moralist and Prophet has made his debut in speeches around the country to business groups and in articles in Readers' Digest and Saturday Review. According to Simon, "the ethics of thrift and savings have been replaced by the ethics of instant pleasure, and we have turned to the modern state to satisfy our hunger." Simon says that the United States is spending too much of its income on consumption and not enough on capital formation and investment, that unless the country...
Such forecasts may sound Cassandra-like. The thrift institutions took in money at a record clip early this year and still have plenty to lend: they hold more than $405 billion in assets. Treasury borrowing in the fourth quarter is supposed to decline from the current quarter, though that is not certain. Nonetheless, the threat of continued disintermediation is pushing savings institutions into taking protective action. Already many are cutting back on mortgage commitments for the rest of this year; in the past few weeks several have raised mortgage Interest rates by about a quarter of a percent...
Even without nuclear warheads, the Pershing IIs, at $2 million each, are scarcely thrift-shop weapons. Indeed, the cost of filling Israel's proposed weapons order, which includes the short-range Lance missile as well as other sophisticated weaponry, will come high-and the U.S. will be called on to foot two-thirds or three-fourths of the bill in the form of grants. All together over the next five years, Washington is expected to provide Israel with at least $10 billion in arms and economic...
...Even before the 1976 election, the President may have to face up to the soaring cost of medical care, the steadily rising crime rate, the breakdown of the cities and the crumbling of mass transportation. His view-widely welcomed at present-that Government should do less and that national thrift is in order could begin to seem to many people like a do-nothing policy. Along with this, "charisma"-a cliché not recently heard-might return to the political vocabulary...
...demand for histories of the Depression. The staff has also been taught the meaning of such recondite phrases as "GNP implicit price deflator" (the nation's most comprehensive price index) by securities brokers who come in to look up reference publications no longer subscribed to by their thrift-minded firms...