Word: turmoil
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Dates: during 1970-1979
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Washington was displeased with Kim's expulsion and even more concerned about the consequent turmoil, which could only damage the reliability of a Far Eastern ally that has 39,000 U.S. troops stationed on its soil. Even before the rioting, the State Department had criticized what it called "a definite retrogression of human rights in South Korea" and showed its disapproval by recalling Ambassador William Gleysteen for "consultations." At week's end, Defense Secretary Harold Brown, accompanied by Gleysteen, went ahead with a long scheduled visit to Seoul. Even though he announced that the U.S. was withdrawing...
...charged to margin investors up close to 16%, making stock ownership on borrowed money extremely expensive, but it had a sharp psychological effect on the market. That was quickly compounded when Chase Manhattan President Willard Butcher, told a New Orleans press conference that the money markets were in such turmoil that banks might soon wind up having to recalculate their prime rates, "from 9 in the morning to 3 in the afternoon...
...latest turmoil in the gold and currency markets shook the Belgrade meeting like an Adriatic earthquake. The moneymen hovered over telex machines to catch the latest gold fixings and dollar-mark exchange rates, and swapped anxious rumors. Inter-continental Arab finance ministers ducked quietly into Bill Miller's first-floor suite at the Inter-continental Hotel to get his assurances that the dollar would be defended. Reported TIME Correspondent Friedel Ungeheuer: "An undercurrent of fear and confusion about what has been happening on the money markets ran through the corridors of the modern Sava Center, where the I.M.F. sessions...
...attempts to save it will only ruin the nation's industry by making such exports as computers, airplanes and chemicals vastly too expensive in Japan or Germany, and imports like autos far too cheap at home. Former Fed Chairman Arthur Burns told the Belgrade conference that the turmoil in world exchange markets would not end until "reasonably good control over inflationary forces has been achieved, especially...
...issue before the public. Washington took on the character of a besieged city. On May 9 a crowd estimated at between 75,000 and 100,000 demonstrated on the Ellipse, south of the White House. The President saw himself as the firm rock in this rushing stream, but the turmoil had its effect. Pretending indifference, he was deeply wounded by the hatred of the protesters. In his ambivalence Nixon reached a point of exhaustion that caused his advisers deep concern...