Word: bogeyman
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Actually, the danger of overextended credit is more a bogeyman than real. While the overall public and private debt has increased 50% since World War II, the gross U.S. national product has increased even faster-by 68%- and consumers' liquid savings are estimated at $525 billion, considerably more than their debts. Thus, most Government economists feel that the current credit market is merely expanding with the U.S. economy. Moreover, the reason for borrowing has changed. Once people borrowed chiefly because they needed money for necessities. But today consumers with good jobs and good prospects borrow because they feel that...
...Just Plain Silly." Next day, at a Chamber of Commerce meeting in Johnstown, Pa., quite another view of automation was advanced by U.S. Steel's Chairman Benjamin Fairless. Said he: "Automation has become a menacing word-a kind of modern bogeyman with which to frighten our people." Fairless went on to show why he thought the fears "just plain silly." Was not the telephone industry the prime example of automation, with its increased use of dial phones? Yet between 1940 and 1950, said Fairless, the number of telephone operators in the U.S. increased...
...Tribune's chief Washington correspondent: The real "secret weapon" of the Republican campaign and the Republican winner of 1954 is Ezra Taft Benson, the flexible-price-support Secretary of Agriculture. The "farm revolt" just didn't develop. And Secretary Benson has shown himself to be, not the bogeyman, but the strong man of the Republican campaign, second only to the President himself...
...bogeyman of the Democratic Party is Vice President Richard Milhous Nixon, and he has more than earned its dislike...
...rights. Did it never occur to our educators that these suspicions would be quickly dispelled if they would cooperate freely with the investigators and even invite them to their campuses? People with nothing to hide do not fear the spotlight . . . The supposed threat to academic freedom is a bogeyman . . . I am a college man, but I believe these investigations should be pressed vigorously...