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Bicycle Comeback
◆ Bicycle sales, after years of lagging behind automobile in industrial nations, are once again outstripping car sales The four million new bicycles purchased in Federal Republic of Germany last year exceeded new car registrations by 18 million U. Also, taxes are already high, so that raising them to try to the budget could meet severe resistance, perhaps even a ‘tax revolt’
Thus, the world’s wealthiest country has its own serious money troubles It is awash in debt, and is in a poor position to help other nations that are drowning in debt
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‘All currencies have lost about three fourths of their pre-World War II buying power’
Debt Pressures Build on Others
THE plight of national governments in regard to debt is being duplicated by others. |