Word: 1930s
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Unlike any other downturn since the 1930s, this one has affected everyone, either the fact of it or the fear of it. Even when prosperity returns, 61% predict, they'll continue to spend less than they did before. Among people earning less than $50,000 a year - roughly half of U.S. households - 34% have not gone to the doctor because of the cost, 31% have been out of work at some point, and 13% have been hungry. At the same time, 4 in 10 people earning more than $100,000 say they are buying more store brands, 36% are using...
...late sixties.Beer was elected president of the American Political Science Association in 1977, and was also appointed as a fellow of the British Academy in 2000.After earning his Ph.D., Beer earned a Bronze Star fighting with the U.S. Army in Normandy. During his time at Oxford in the 1930s, he travelled to Germany, where he saw Hitlerism first hand, according to Government professor Harvey C. Mansfield ’53, another of Beer’s former students. “He wanted to know how Germany could have fallen so far to embrace these vicious totalitarian ideas...
...Well, no need to worry about 2017 anymore. Thanks to the worst economic downturn since the 1930s, the moment of reckoning is already almost here: according to both the budget proposed by the White House in February and projections issued by the Congressional Budget Office (CBO) in March, Social Security benefits ($659 billion, according to the CBO) will exceed payroll taxes ($653 billion) in fiscal 2009 for the first time since 1984. Payroll-tax receipts generally hold up much better in recessions than do income taxes, but job losses have been so severe that the CBO expects them to decline...
...Until now. As the world reels from the worst recession since the 1930s - a recession triggered by faulty U.S. economic stewardship - a vociferous chorus of critics is calling for a coup to topple King Dollar. In late March, Zhou Xiaochuan, the governor of China's central bank, said the global economy would be better off with a "supersovereign" reserve currency, in place of one issued by a specific nation - in other words, the dollar. "The frequency and increasing intensity of financial crises," Zhou said, "suggests the costs of such a system to the world may have exceeded its benefits." Zhou...
...pictures of New York in the 1930s...