Word: two
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Dates: during 1970-1979
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...These two angry men are among the 221,000 refugees from Viet Nam who have been resettled on state farms; 78,000 in Guangxi province, 27,000 in Yunnan and others scattered in Guangdong and Fujian provinces. Thirty thousand more are in refugee camps near the Viet Nam border waiting for places in permanent settlement areas...
Other factors also contrive to make the market look fairly attractive. The last two bull markets started during recessions, after interest rates fell and investors began to sense recovery ahead. Also, stocks now are cheap. Corporate profits have almost doubled in the past four years, but many blue-chip stocks of big, old companies are selling at mid-1975 prices. The increasing number of corporate takeover bids suggests how undervalued they are. The Dow industrials are selling at 93% of book value, the worth of the assets minus the liabilities and divided by the number of shares outstanding. Thus...
...shortage has developed in part because the U.S. Treasury decided last May to cut its regular gold offerings to 750,000 oz., a 50% reduction. The supply gap could widen because the IMF gold auctions are scheduled to stop next May, the Soviets have reduced their sales to roughly two-thirds of last year's, and South African production has decreased by about 25% over the past decade...
...returned to the Treasury. That could give Congress the idea that the agency's appropriation was too large in the first place and lead to a reduction the following year. Says former Treasury Secretary Michael Blumenthal: "More money is wasted in the Federal Government in the last two months of the budget year than in the previous ten months...
More important, Virginia Congressman Herbert Harris held hearings last week on his bill, cheered on the Hill, that would limit agencies to spending no more than 20% of their annual budgets in the last two months of the year. Such a restriction was imposed on the Department of Defense years...