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...billion rubles; next year, 18 billion; and in 1967 we would have to pay about 25 billion, or almost as much as the subscriptions to the loan envisaged for the current year. This is a vicious circle." Khrushchev's solution was as Marxist as the circle itself: wipe out the loan and postpone paying back previous loans for 25 years, during which loan holders would get no interest...

Author: /time Magazine | Title: RUSSIA: Pie in the Sty | 4/22/1957 | See Source »

...basis of current estimates, said Verrier, the 1957 budget will be in the red by $350 million (at the free rate), and a foreign-trade deficit of $250 million is in sight by year's end. This would more than wipe out the nation's $237 million in gold and dollar reserves...

Author: /time Magazine | Title: ARGENTINA: Going for Broke | 4/1/1957 | See Source »

Next day the market turned right around, climbed 7.32 points to make up more than half of the loss, followed it up with another burst of buying later in the week to wipe out the last of the damage. The final Dow-Jones figure: 468.07, or 1.78 points higher than where it started...

Author: /time Magazine | Title: STATE OF BUSINESS: Seesaw Stocks | 2/25/1957 | See Source »

Lion Follows Christian. Twenty One has built its week-to-week suspense on whether Van Doren will keep plunging or quit while he is so far ahead. By now, he risks little to keep going. It would take eleven tie games followed by a 21-0 defeat to wipe out his winnings. His income-tax bracket is so high that if he were defeated in a game that cost him, say, $20,000, he would actually be out of pocket only $2,200 (see chart). Of the $122,000 he has won, income taxes will let the unmarried...

Author: /time Magazine | Title: TV & Radio: The Wizard of Quiz | 2/11/1957 | See Source »

...Germans are set to wipe out the null British garrison on the Greek isle of Kheros. The Germans control the air by day and the British the sea by night. Unless the British can silence a German battery on the neighboring isle of Navarone, nothing can save the Kheros garrison. Five men are selected to sail a caique under the cliffs by night, scale them, and blow up the German guns. Largely because the five are led by a man so tough and tight-lipped that he would make Bulldog Drummond seem like a pacifist balletomane, they pull off this...

Author: /time Magazine | Title: Books: Derring-Documentary | 2/11/1957 | See Source »

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