Word: boom
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Dates: during 1960-1969
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...likelihood is that more Americans will make the rent-it business even bigger, as home ownership and leisure time increase. The boom may well be symptomatic of a new aspect of the American character-the loss of price in acquisition and ownership of material things in exchange for an appreciation of practical convenience. Says United Rent-All's Patton: "I think the time is just around the corner when we'll be able to convince people that it's foolish to go out and spend a lot of money buying furniture. They'll be renting...
...average 7% a year. On that basis, he calculated, Japan could boost its gross national product from null $39.8 billion to $72 billion by 1970. But last week Japan's growth rate was still clipping along at over 13%-and the Japanese economy was suffering from too much boom...
...Ikeda, whose political future rides on his promises of ever growing prosperity, this was medicine too bitter to take. Brushing aside the call for a higher bank rate, he contented himself with ordering his ministers to work out less drastic administrative measures for cooling off Japan's overheated boom. And he stoutly denied that the mounting balance-of-payments deficit poses any real threat to Japan's economic health. Says Ikeda blandly: "It is just part of priming the pump...
...hate the word 'boom,' " said U.C.L.A. Economist Robert Williams last week. But for all his semantic fastidiousness, Dr. Williams-like many another forecaster-could find no better term to describe what the U.S. economy seems headed for. The real optimists had an even more hyperbolic word to describe what is coming: Superboom. By next spring, they predict, Berlin-inspired defense orders will strain U.S. productive capacity, and by Christmas 1962, the gross national product will soar to nearly $600 billion...
Balance in Sight. The official view of Government economists is that the economy is solid, though not yet in a boom. But the Government has consistently underestimated the speed and scope of the 1961 rebound-and last week at least one top economic policymaker joined the boomsters. Budget Director David Bell, who expects federal spending to approach $91 billion in the next fiscal year, argues that the budget will nonetheless be balanced because tax revenues will increase as much as $10 billion-without an increase in tax rates. To do that, the economy would at least have to match...