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Capital, however capital may be defined, would practically cease to exist as an income producing fund, for the simple reason that if money, wherewith to buy capital, could be obtained for one-half of one per cent, capital itself could command no higher price. ↗
It may well be said that the answer to the question: Of what do the cosmic rays in fact consist before they produce their familiar secondary radiation phenomena in the earth's atmosphere? can only be obtained from numerous measurements in the stratosphere. ↗
Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like. ↗