Word: crunch
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...virtually every country has curbed its money supply in the fight against inflation, high interest rates have created a worldwide financial crunch. Scores of nations deeply in debt are finding it difficult to meet their payments. Private banks have cut off credit to whole areas of Eastern Europe, Latin America and Africa. Some bankers and economists fear a prolonged contraction of credit that could disrupt world trade. Says Fritz Leutwiler, chairman of the Bank for International Settlements: "When all the banks get worried at once, there may be a squeeze. The [international financial] markets are extremely vulnerable...
...pushed the state's joblessness up to 14.3%, the highest in the U.S., and profits from the car industry are naturally way down. The effect is at once higher social-welfare spending and smaller tax revenues. Harried state-government officials in Lansing are faced with the worst revenue crunch since the Great Depression...
...completed, many of the researchers plan to leave their jobs to join the company full-time. Although the companies are drawing away some untenured professors, post-docs, and technicians, most professors believe that universities are not being drained because the huge market that has developed has lessened the tight crunch in finding positions for graduates. The companies offer much higher financial rewards and have been quite successful in recruiting from graduate student ranks...
...neighbor's house-without telling him-because it was "an eye sore." Director John Carpenter (Halloween) will make the final selection next month, but with the calls coming in from as far away as Houston, it looks as though he has discovered one answer to the real estate crunch: more horror movies...
...benefits as rapidly as it did from 1975 to 1981. Besides saving money for the trust funds and helping to trim the overall budget deficit in the short run, a limit on future increases could also help build up reserves to soften the 21st century's demographic crunch. Any increase decreed now will almost certainly be frozen into the benefit rates paid to future retirees; the cumulative cost over the decades is gigantic...