Word: businessmen
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Dates: during 1950-1959
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...practice of banking hard money outside is an old one, and the Spanish government had tended to wink at the practice. Businessmen swore that they could not operate without external balances, and even some government agencies had undeclared accounts of their own. But Spain's sick economy has been going from bad to worse. In the first nine months of 1958 the country suffered a trade deficit of $263 million. Its exports of citrus fruits are down more than 60%. It has so little left in gold reserves ($57 million) that it cannot even scrape up enough money...
...Chrismah" (contraction of Christmas and Chanukkah)-a watch-charm ornament combining the cross and the Star of David ("Symbolizes Unity of World's Religion"), advertised as "worn and cherished by people of all faiths . . . royalty, leading government officials, prominent businessmen, also movie, stage and TV stars." Price...
...Businessmen no longer run for the storm cellar at the inevitable williwaws of economic life, but continue to plan and expand for the long term...
...that the drop was the fastest and deepest, the recession was the worst since World War II. The gross national product lost $19.8 billion in six months. It was also the most carefully reported, closely analyzed and best understood of the three postwar recessions. Everyone knew the basic causes: businessmen, expanding at fantastic rates ever since World War II, had to slow down; the economy needed time to sit back and digest all the new capacity. Plant expansion, roaring along at the rate of $37.8 billion in 1957, dropped to $29.6 billion in 1958. Businessmen who had been accumulating inventories...
...immediate reaction of many politicians and businessmen was to call for the classic remedies. They cried for tax cuts, a mammoth government make-work program, many more billions for old-age pensions and unemployment aid. All year long the Eisenhower Administration staunchly resisted temptations to buy its way out of recession, although it speeded up and enlarged present housing and social security programs as antirecession measures. It gave the economy's carefully built-in stabilizers a chance to work and relied on the nation's own basic good health to recover from the slump...