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Word: walls (lookup in dictionary) (lookup stats)
Dates: during 1970-1979
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Usage:

...this invisible money is, of course, available any time to buy a car or a TV or a vacation in Miami, or to finance a corporate takeover on Wall Street. The policy danger posed by this credit proliferation is that a tight money strategy may indeed cut down the growth of the Fed's "official money," but spending would just keep on surging and spurring inflation anyway. Urges Wall Street Economist Henry Kaufman, an internationally respected expert on interest rates and credit: "What we need now is a new monetary growth target that I call the 'debt proxy.' It would...

Author: /time Magazine | Title: The Squeeze of '79 | 10/22/1979 | See Source »

...happen again." That was the cocky mood along the eight blocks of Wall Street last week. A new generation of stockbrokers, analysts and specialists who have only read about the Great Crash confidently continued business as usual. A block from the New York Stock Exchange, Trinity Church, which was packed with prayerful people in October 1929, did normal business...

Author: /time Magazine | Title: Nation: Could the Great Crash of '29 Recur? | 10/22/1979 | See Source »

...nation's banks in 1929 had built up a pyramid of foreign debt. National City Bank judged that Peru had a "bad debt record, adverse moral and political risk, bad internal debt situation"-and then lent the country $90 million that was soon defaulted. Wall Street banks today have $48.7 billion in loans outstanding to Peru and other oil-poor developing countries. Consumers in the '20s had just discovered the installment plan and were plunging into debt to buy radios, refrigerators and that new Model A from Henry Ford. Their grandchildren now have "plastic money" in the form...

Author: /time Magazine | Title: Nation: Could the Great Crash of '29 Recur? | 10/22/1979 | See Source »

...Wall Street today is also very different from what it was a half-century ago. Then the market and the country were in an ebullient mood; optimism was king. The stock market law of gravity held that whatever goes up must go up again. During one day, RCA-the IBM of its era-soared 40 points. In recent years, however, the stock market has had the blahs, reflecting national uncertainty about the future. This summer the Dow Jones industrial average had already declined 50% from its peak of 1051 in 1973, when adjusted for inflation. Concludes Economist John Kenneth Galbraith...

Author: /time Magazine | Title: Nation: Could the Great Crash of '29 Recur? | 10/22/1979 | See Source »

...Wall Street player today is also not like the 1929 Fifth Avenue cook who quit because her mistress would not install a stock ticker in the kitchen or the shoeshine boy who passed on to Joseph Kennedy the insider's tip to "buy oil and rails." In the past decade, 7 million small investors have pulled their money out of Wall Street and spent it on real estate, gold or simply a new mink coat. Over half of today's market is dominated by professional investors representing pension funds, insurance companies or mutual funds. They have better financial...

Author: /time Magazine | Title: Nation: Could the Great Crash of '29 Recur? | 10/22/1979 | See Source »

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