Word: wealth
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Dates: during 1980-1989
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...revolution and race war in South Africa is horrifying, for it will inevitably be bloody and threaten to wreek one of the most productive economics in the world. Obviously, the group that would suffer most in such a confrontation is the white establishment--whites stand to lose their wealth, their country, and very possibly their lives. And yet, it is the white government that is giving Black South Africans no option but to engage in violent resistance...
Some tribespeople view the suicide epidemic as a reason to re-examine the reservation's social and economic ills. About 70% of the Wind River work force is unemployed, and jobs for the young are especially scarce. At the same time, the reservation's oil and gas wealth provides royalty payments of up to $300 a month per person, thus fostering a debilitating welfare culture. Howard Smith, fiscal officer for the Arapaho tribe, which shares the 2 million-acre reservation with the Shoshones, says, "Too many of our young people have time on their hands, so they drink and watch...
...late 1970s, the billionaire Hunts of Texas used all their wiles and much of their wealth in what appeared to be a daring and nearly successful attempt to corner the silver market. The family accumulated some 200 million oz. of the precious metal in a series of purchases that helped drive silver prices from $11 per oz. in 1979 to $50 per oz. in January 1980, when the market finally crashed...
Last week the family revealed that it has completed the sale of 90% of its remaining silver hoard, amounting to some 53 million oz., for $320 million. The sell-off represented a multimillion-dollar loss for the Hunts, whose combined wealth had slipped from more than $5 billion in 1980 to about $2.2 billion before the sale...
...people's House" is becoming richer and richer. Figures reported last week by New York City's Democracy Project, a liberal think tank, and the Public Interest Research Group, a similar institution in Washington, D.C., showed that the wealth of the 43 new members elected last year to the House of Representatives was almost four times greater than that reported by the 77 freshmen elected in 1978, after accounting for inflation. On the average, each of the 43 Representatives had assets of $251,296, vs. $41,358 for the 1978 group. Among the new lawmakers are as many...