Word: germane
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Dates: during 1960-1969
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Waller rapped for hours about psychology, linguistics, (did you know that the Russian word for wolf is the same as the German one for people?) and American society (its schizophrenic. the phones ring too softly and the police sirens are too loud. in England its all very level...
...birth in 1948, the West German Deutsche mark scarcely seemed to be a currency that could produce a miracle. Most of the country's war-wrecked industry still lay in ruins; the economy was torn by inflation, black markets, and such a food shortage that hungry city dwellers trekked to the country in hordes to barter their clothes and furniture for farmers' grain and potatoes. Neither gold nor a cushion of foreign exchange backed the infant mark. Yet its creation proved to be the essential underpinning of the Wirtschaftswunder that transformed West Germany into Europe's most...
Unqualified Confidence. Only the Swiss franc, which is 100% backed by gold, shares with today's Deutsche mark the unqualified confidence of international businessmen, financiers and speculators. Because investors now prefer bonds floated in German marks to those denominated in U.S. dollars, most mark issues are selling above par, while dollar bonds go at a discount in Europe. During the March gold crisis, there was such a rush to change other money into marks that foreign accounts in West German banks swelled by a net $285 million in a single week...
Relying on Discipline. At first it was touch and go, but Erhard's classic reforms prodded Germans to the hard work that turned revival into boom. Since 1951, West Germany's reliance on monetary and fiscal discipline has repeatedly proved its potency at steadying the economy. Ironically, Erhard fell as chancellor in 1966 partly because he failed to follow his own doctrine. A euphoric orgy of government overspending helped push the country into an economic slump complicated by a surge of inflation. After the Kiesinger government reimposed a program of austerity by raising taxes and cutting federal spending...
...barriers have withstood the test of flying feet as stubbornly as Armin Hary's world record of 10 sec. flat for the 100-meter dash-set by the West German Olympian in 1960 and tied since by nine other sprinters. Last week Hary's Deutsche mark was not only broken but absolutely devalued at the A.A.U. championship in Sacramento, Calif. In eight 100-meter races-four heats, two semifinals, the final, and a runoff for one berth in this week's Olympic trials-no fewer than ten competitors equaled Hary's time, and three were officially...