Word: upwards
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Nixon is using the surtax as a lever not merely to force the U.S.'s major trading partners to float their currencies but to make sure that those currencies float substantially upward...
Businessmen may also feel confident enough to spend much more. After Nixon's speech, a top economist at Chase Manhattan Bank revised estimates for capital spending upward by a minimum of 20%, and leaders of many large corporations ordered complete budget reviews. Said Paul Oreffice, financial vice president of Dow Chemical: "Our budget for new plants over the next year could go up from its present level of $150 million to as much as $200 million." One major complaint was the one-year time limit on the maximum 10% credit. The incentive would have almost no effect during...
...increase in consumer buying will likely raise corporate profits. But that rise should not result in any substantial increase in wages, which are not only frozen but are relatively easy to control. Prices, on the other hand, have in the past been slightly more volatile. Still, no major upward march should occur in the freeze period...
...word from Washington sent money speculators scurrying to the major exchanges. Cause of all the excitement was a report issued by the Congressional subcommittee on international exchange and payments. Committee Chairman Henry Reuss of Wisconsin and his colleagues suggested that the U.S. dollar should be devalued -preferably by an upward revision in the price of strong currencies like the West German Deutsche Mark. Short of that, they would settle for unilateral action on Washington's part...
...lunar lift-off taken from the moon's surface. Because of the nagging time lags, Fendell could not afford to look at the TV monitor himself. He had to go completely by the clock. At exactly T-minus-zero, Fendell had to begin tilting the camera upward. Thus, by the time his command reached the moon, the camera would-he hoped-follow Falcon's ascent stage until it drifted off the tube. Then, in order to bring it back into sight, Fendell would have to press an-other button precisely two seconds after liftoff, ordering the camera...