Word: boom
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Dates: during 1960-1969
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...orders." At Kansas City's United Farm Agency, which sold 7,500 farms in 30 states last year, Vice President Norman McCain warns: "The supply of good farms is fast disappearing." Says Agricultural Economist William G. Murray of Ames, Iowa, "We have all the essentials for a land-boom bonfire...
Moreover, with increased defense spending for Viet Nam, virtually full employment and unprecedented production levels, inflationary pressures seemed certain to become more, not less, severe. Economists of all stripes, from classical conservatives to New Economics liberals, urged the President to damp down the boom, whether by raising income taxes, suspending industry's 7% investment credit, or cutting Government expenditures...
...Beryl Sprinkel of Chicago's Harris Trust and Savings Bank, the inflationary situation is "about three times as bad as any we've had over the past 15 years." Even the most liberal of the "New Economists," whose free-spending policies have helped sustain the five-year boom, are openly troubled. "We've passed the point of creeping inflation," said M.I.T.'s Paul Samuelson, "and reached the point of crawling inflation...
Nonetheless, President Johnson's concern for the economy was evident in his repeated references to it last week. Sounding the theme that the U.S. could have its boom and beat inflation too, he warned: "We must be alert to assure that the pace of our advance does not become too rapid, endangering the healthy stability and sound balance of our expansion. Yet to conclude that we must proceed cautiously does not mean that we should slam on the brakes or throw the economy into reverse...
...noisy noise annoys an oyster," French students recite as they learn English pronunciation. The jet age is bothering more than oysters. French trial records mention a horse killed by a sonic boom, female mink driven to eating their young, and Burgundy wine soured by the roar of low-flying planes. What the French press blasts as "sonic aggression" has now led a Nice real estate man to an equally loud legal triumph that is sure to give airlines a splitting headache...