Word: boom
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Dates: during 1960-1969
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...free nations are becoming more interdependent every day, the Western nations should look toward the day when they can cooperate more closely on fiscal policies, said Kennedy. He recommended a study to determine whether a new global financial agency should be founded to smooth out the cycles of boom-and-bust, surplus-and-deficit, by helping to regulate interest rates, money movements and fiscal policies throughout the non-Communist world. To create and join such a bank would require some sacrifice of economic sovereignty, but Jack Kennedy asked the Treasury to consider the idea...
...Boom. The rush to Washington began early, and by midweek it seemed easier to get a Cabinet job than a bed. Hotels, motels and boardinghouses were jammed, and the overflow reached as far away as Baltimore and Annapolis. Inaugural committees, swamped for tickets to the official functions, were in despair. It was hard enough to satisfy the requirements of the bigwigs who poured into town; even more embarrassing were the littlewigs who had been sent souvenir inaugural invitations and, mistaking them for the real thing, commandeered white ties and tails and rushed straightaway to Washington. Scalpers swept into action, unloaded...
...then, adding to all the excitement and giving even more bang to the boom of the Washington real estate market, came the members of the Kennedy clan. They congregated in the Georgetown area soon to be vacated by Jack. The President-elect's sister and brother-in-law, Jean and Steve Smith, already lived on O Street. Now old Joe Kennedy and his wife Rose rented a P Street home for a tidy $200 a day. Ted Kennedy and his wife took overa place just across the way, next to the Christian Herters. Kennedy Sisters Eunice Shriver...
...purchasers for anything that could not be easily carried. Sales of autos were down as much as 90%. A tractor firm, which a year ago was selling ten machines daily, sold only eight in an entire month. Algiers' shopkeepers saw the abrupt end of a six-year business boom, grumbled that this month was "the worst January we've ever had." Apartments stand empty and houses are offered for sale at what realtors described as "almost ridiculously low prices." The European rightists are further dismayed by the inauguration of President John Kennedy, remembering that he spoke...
...Painful Correction. The economic report also implicitly admitted that the tight money policy to fight inflation may have helped to slow the boom, but insisted that the fight laid "a firm base" for sound growth. "Some temporary acceleration of growth might have been achieved if expectations of price increases had been allowed to persist and to become fully rooted." But such growth would have been "unsustainable" and would now confront the economy with "the need for far-reaching and painful correction...