Word: yen
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Dates: during 1970-1979
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...fear of being engulfed by the smaller but better-organized Communists, and 2) the ability of the L.D.P. to outspend its opponents on campaign rallies and posters. As the Japanese say, "Go to, yon raku" (Five wins, four loses)-meaning that a candidate who can spend 500 million yen ($1.78 million) will inevitably beat one who can spend only 400 million yen ($1.4 million...
Colson apparently satisfied Nixon's yen for macho operators. He was one of those who talked of "playing hardball" for keeps, and hostile outsiders were not his only targets. He, along with Haldeman, cracked down on more genteel staffers like Communications Director Herb Klein. Though a Nixon friend for more than 20 years, Klein finally resigned. Everything Contrived. His most important role was as a resourceful if unscrupulous political operator. Colson took on the tough jobs for the President. He leaked damaging or misleading information to the press about people who criticized the President, had young men hired...
...wage increase comes on top of earlier blows to the economy from yen appreciation and soaring oil prices. Already, electric-power rates are scheduled to rise in August by 40%, and shipping costs by one-third. Even before the wage increase, sales of Japanese automobiles in the U.S. were running at only 60% of 1973's level, in part because prices have climbed 5% to 10% above those of comparable American makes. A Toyota official says that the wage boost will force prices even higher this fall. The Industrial Bank of Japan predicts that by next year it will...
...other hand, some strong forces are working to keep the inflationary fever burning. Round the world, a growing number of jittery investors have lost confidence in the value of paper money and are rushing to get rid of their cheapening dollars, pounds, francs and yen by buying things that they feel have solid and tangible value: land, art, antiques, farm commodities, metals. The most dramatic consequence has been an incredible rise in the price of gold from $89.25 an ounce as recently as a year ago to a February high of $178. That increase and rising prices of paintings...
Similar price raises on Quasar sets made in the U.S. will be unnecessary, whatever happens to the yen. Motorola Chairman Robert W. Galvin says that Matsushita will be able to put more money, effort and energy into the TV business than Motorola could have, and adds: "It will be able to turn our people on as a new coach does...