Money: Where It Isn't

The European money market is running out of money. Items:

> In West Germany, credit is so tight that Frankfurt last week canceled plans to build a new subway system, while Düsseldorf was forced to call off construction of a new city hall, auditorium and athletic stadium. The credit squeeze is even tougher on private industry. Corporations with Triple-A credit ratings are offering 9% interest and are still unable to raise the money they need for capital expansion. Thus, capital investment this year will drop to its lowest level since World War II. Order backlogs are falling, and the rise...

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