Word: boom
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Dates: during 1960-1969
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...Normal" Inflation. Inflation has long been a companion to economic boom...
...since World War II. Even though the consumer price index has been edging up-the Commerce Department announced last week that it had risen .7% in the first four months of 1962-its rise has been only a modest 1% or 1½% in recent years. In the economic boom of the 1950s, that rise averaged...
...government edict, red lights replaced the crosses. In the past two years, the electricity bill for Addis' red-light districts has risen as the number of cribs increased from 5,000 to 8,000. The boom is a significant symptom of change. Its cause: the influx of foreigners into the city for an endless series of conferences, all part of a determined attempt by His Imperial Majesty Haile Selassie I, Conquering Lion of Judah, Elect of God, King of Kings, and Emperor of Ethiopia, to put his land in the vanguard of African nationalism...
Then, with the Korean war, a new boom-and-inflation cycle set off the roaring bull markets of the '50s. The war itself sent the Government on a buying spree, and the cease-fire released a burst of dammed-up consumer demand for cars, houses, appliances. Its confidence bolstered by Dwight Eisenhower's election, business began to expand. As the economy reached new highs, big wage hikes were followed by still bigger price rises. The real value of the dollar went down by 3∧ every year...
...gamblers thought they were in on a sure thing if they picked and chose correctly. The cold war and Sputnik would force the U.S. Government to spend lavishly on anything even vaguely related to defense; the population was going up, and to serve it the U.S. economy would boom as never before in the new decade that was being alliteratively billed as the "Soaring Sixties.'' Operating on these premises...