Word: depressions
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Dates: during 1980-1989
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Increasing taxes is one sure way to depress further the already weak economy and abort the incipient recovery. Taxing yourself out of a recession is like trying to borrow yourself out of debt. The result of more and higher taxes will be reduced revenues and even greater deficits. Additional tax cuts will do far more to stimulate the recovery...
...allowed half an hour out of her cell each morning for a shower and an hour of exercise later in the day, but she has felt increasingly estranged from other inmates and no longer takes a recreation period. She receives no visitors because she says her surroundings would depress relatives and friends...
That shortfall is hitting the bottom line. Robert Albertson, an analyst with the Smith Barney investment firm, estimates that delinquent loans to foreign firms may have lowered fourth-quarter profits of major banks by some 5%. Concern about an earnings drain from bad loans has already helped depress bank stocks. While the stock market has been reaching new highs, shares of Citicorp have fallen 14% since November. Chase Manhattan has dropped 11%, and Valley National is down...
These sales might further depress already low farm prices, but Block thinks the effect would be minor. The reason: if a farmer let land lie fallow on which he could grow, say, ten bushels of wheat, the Government would give him only eight bushels (though exact ratios are not settled). Thus the total reaching the market would be reduced. Farm income would be bolstered because farmers could sell crops without the expense of growing them...
...Manhattan wrote off loans of $68 million in the quarter, compared with $24 million in lending losses during the same period a year ago. Citicorp's write-offs were up 84%, to $103 million. At the Bank America Corp., loan losses of $110 million were serious enough to depress overall profits by 14%, to $103 million...