Word: billioned
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Dates: during 1950-1959
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...first quarter, the Commerce Department reported last week, the gross national product fell by $10.6 billion to an annual rate of $442 billion, the lowest point since the third quarter of 1956. It is expected to decline even more in the current quarter...
...Wall Street Henry Clay Alexander, chairman of J. P. Morgan & Co., called for a tax cut of $5 billion or more as the real spur to economic activity. Such a cut, said Alexander, "is the course of prudence in today's circumstances. Our economy is as much a weapon in the struggle for survival as our rockets and our missiles...
FARM LAND VALUES are still on rise. Value of U.S. rural real estate has jumped to record $116.3 billion, v. $109.5 billion a year ago, with three-quarters of the total value in land alone. Buildings on average farm are worth...
...nation has grandiose plans for new roads, dams, industries -and little to pay the bills save raw materials. Owing largely to the commodity decline, according to the United Nations Economic Commission for Asia and the Far East, its 16 Asian member nations had an aggregate net deficit of $2.1 billion for the first half of 1957 alone v. a deficit of $750 million for all of 1955. To make it worse, the area's share (excluding Japan) of world trade, which stood at 10.7% of the total in 1950, has now declined...
...income taxes alone would come to an estimated $580 million, plus another $100 million for corporations owning the stock. Moreover, so many shares would be dumped on the market that the market could not absorb them without depressing stock values in the two companies by as much as $5 billion...