Letters: Jan. 31, 1983

Debts Due

To the Editors:

The debt bomb [Jan. 10] proves once again that every loan, even between nations, is a gift until it is repaid.

Norris E. Chapman


The world has now discovered the dangers inherent in the Federal Reserve Board's pursuit of tight-money policies. It is tragic to see 12 million Americans unemployed, thousands of U.S. companies in bankruptcy and hordes of Third World countries on the brink of default. No wonder John Maynard Keynes warned us to avoid high interest rates.

Suzanne M. Taylor

Bothell, Wash.

So the Federal Reserve is the "lender...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!