Word: usefully
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Dates: during 1970-1979
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Wall Street is also safer today because, in the aftermath of the Crash, the Government moved to outlaw some of the abuses that permitted the 1929 bubble. Fifty years ago, a buyer had to put down only 10% of his own money to get a stock; he could use credit for the rest. Today, under a Federal Reserve rule, customers have to put up at least 50% of their own funds. The Fed can also slow bank credit to stop speculation from feeding a boom, a step it took last week. In addition, there was no watchdog Securities and Exchange...
...There is no question that the economy is now going to turn down quite sharply. We are forecasting that unemployment, now 5.8%, will hit 8% by the second half of next year." Still, Eckstein thinks that the recession will be a bit less bitter than in 1973-75. "The use of credit by business has been considerably more cautious, inventories are not anywhere near as high as they were in 1974, capital spending has not been that excessive, housing activity has not been excessive, so the [current] exposure of the private economy is a lot less...
...crunch made a big front-page splash in just about every newspaper. But the Wall Street Journal, forced by its staid though successful format to use only a single column on page one for the story, had to bury considerable news inside. The paper felt obliged to provide readers with a guide, which ran on the front page...
...Brezhnev warned that the new NATO weapons would "radically alter the strategic situation on the Continent," and "poison the international atmosphere." He singled out West Germany for a special threat: "It would not be difficult to imagine what consequences would await her if this weaponry was ever put to use by its owners...
...bearded Cuban President addressed the United Nations General Assembly for more than two hours. It was his first visit to the U.S. in 19 years, and Castro marked the occasion by larding his speech with anti-American gibes. He began by insisting that he did not intend "to use unnecessary adjectives to wound a powerful neighbor in his own house." But then he went on to accuse the U.S. of "hostile acts, pressures and threats" against Cuba...