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White House Diaries
August
17
1982
August 17, 1982
Tuesday, August 17, 1982
P.L.O. out of Beirut looks much closer. Press & T.V. with a leak from State Dept. has gone crazy declaring our joint communiqué with P.R. of China is a betrayal of Taiwan. Truth is we are standing with Taiwan & the P.R.C. made all the concessions. Met & lunched with Chairman Moe—head of Liberia. Spent rest of day calling & meeting with people (Congress) on tax package. Best reaction to last nights speech was the mkt.—Dow Jones went up 38.8 points—2nd biggest jump in history. 93 mil. shares traded almost a record. Citi-Bank joined the others at 14% prime rate. Housing starts in July reported as going up 34%—Savings rate went up to about 7.9% after 10 yrs. of declining. Final meeting with group of Sens. & Congressmen re Taiwan. I’m sure we calmed their concerns.
