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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Aug 12, 1968
Page
17
President Johnson signed a law extending the federal guaranteed student loan program until October 31 and raising the borrower rate from 6 to 7 percent. The measure aims to expand loan availability as Congress considers Higher Education Act amendments.
The Johnson administration hints at mandatory wage-price controls as a potential tool to curb inflation, though unlikely to pass Congress soon. Willard Wirtz and President Johnson have repeatedly raised the topic, while experts like Walter Heller propose independent price standards.
A reader asks if paying off a $20,000 mortgage at 6 percent is wise versus keeping investments. The adviser says payoff can save money now but compare investment income to the 6 percent cost. If investments yield less than $1,200 yearly, pay down debt. otherwise keep investing and defer.
Latin American efforts toward a European style common market falter as LAFTA, with members Argentina Brazil Bolivia Chile Colombia Ecuador Mexico Paraguay Peru Uruguay and Venezuela, falls six months behind schedule. Negotiations stalled over which products to include in the second 25 percent of trade liberalization set for 1967, despite agreements from the 1960 Montevideo Treaty.
The Andes group and CACM push toward a unified Latin American market but face objections from oil and wheat producers and funding woes. Private interests in Venezuela and Ecuador slow progress. Johnson offers aid to CACM aid amid balance concerns. A 1985 target remains optimistic yet uncertain as SAFTA reforms loom.
Frank L. Willman 74, under care for a heart ailment in Holy Cross hospital’s intensive care unit, fatally shot himself Saturday night. Nurses and doctors heard an explosion like sound and found him with a chest wound.
Long Beach California Monday December 12 1968 brief item from Independent Press Telegram dateline reports a local topic or event with limited readable details.
A 23 year old Glendale man Michael Amdrokles Skambenis was found dead at the base of a roadside cliff in Angels National Forest about 15 miles north of Los Angeles. Patrolmen said his motorcycle was tangled in an 18 foot steel cable and the death appeared to have occurred about a week earlier. Investigators were puzzled by the cable’s presence.
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