Word: trade
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Dates: during 1970-1979
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Demand for credit ballooned. In the past four weeks alone, loans to business jumped at a rate of 23%, while the commercial paper market, which is where big corporations trade megabuck lOUs back and forth among themselves, leaped by an astonishing...
Those who trade in gold should logically be as euphoric as Forty-Niners striking a new lode. But logic does not govern this market. "It's terrible now," says Richard Lowrance, 23, a trader who fills customers' orders at the Chicago Mercantile Exchange. "Since gold went over $350 an ounce, the volatility has increased fivefold. Our volume has dropped...
...Agriculture Bob Bergland was not sure Moscow's grain negotiators would even show up a few days ago to review purchases. They did, and signaled that they would buy 25 million metric tons of grain, a new high. Burly, dark-haired Boris Gordeev, Deputy Minister of Foreign Trade, leaned across a table and told about the hot dry weather that had pinched Soviet production (by as much as 20%, American experts estimate). That may be the only confession of weakness we will get from the Soviets in the next years-but it could be everything...
Financial experts praise Barre for having stabilized the once wobbly franc and eliminated France's trade deficit. But the man in the street is more aware that unemployment has risen to 1.4 million, a record 6.4%* compared with 4.4% when Barre moved into the Premier's official residence, the Hôtel Matignon. Inflation, which he vowed to bring under control, has been running at an annual rate of 11.3%, vs. 9.7% in 1976. Barre has warned that the French face more, not less, belt tightening. Said he: "Next year will be very difficult. The choice...
...Yankee dollar's weakness on money markets also reflects decreased innovation. For years high-technology exports such as computers and telecommunications equipment provided a comfortable trade surplus. But since the early '70s foreign manufacturers have strongly challenged American industrial products, and the U.S. has been suffering increasingly severe trade deficits, thus weakening the dollar. It is all too easy to blame the trade deficit on skyrocketing oil prices, though they are a major cause; Japan, which must import all its oil, has maintained a trade surplus by developing high-technology products and aggressively selling them abroad. A prime...