Word: buying
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Dates: during 1950-1959
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...history (total Veterans Administration spending since 1946: $72 billion). Most important, the aid was given when and where it could help a man re-enter competitive society. U.S. Employment Service set up a nationwide job hunt. The VA guaranteed $50 billion worth of low-interest loans to help buy 5,700,000 homes, 73,000 farms, 237,000 small businesses. Riding a gravy train, 8,500,000 joined the "52-20 Club," by 1949 spent up to 52 weeks (average: 19) drawing $20 a week in special unemployment pay. Says Seattle Teacher Otto N. Larsen, 34, onetime B-29 instructor...
...sheer momentum of big basic projects (TransCanada gas pipeline, St. Lawrence Seaway) kept payrolls and profits at near-record levels. Unlike the U.S. Government, Prime Minister John Diefenbaker's Tory government found it feasible to finance antirecession measures. Tax cuts and increased social-welfare payments encouraged consumers to buy at record rates. A $350 million government mortgage-loan program pushed housing to an alltime peak (160,000 starts) and touched off subsidiary booms in a dozen supply industries. A good farm and fishery year pushed exports of wheat, cattle and salmon to high levels, kept foreign money flowing...
DEFENSE: In view of Ottawa's decision to downgrade the Avro CF-105 Arrow jet fighter in favor of U.S. missiles, Canadian industry should have "ample opportunity" to compete for U.S. defense subcontracts, now sharply limited by the "Buy American...
Innovate & Profit. For the businessman with something truly different, new buying patterns promise fabulous profits. The sales magic in planned obsolescence has worn thin; consumers are increasingly wary of "new" models whose only visible changes are reshuffled buttons and knobs, especially if the old models still work. Today's consumer demands something really different, and in 1958, industry responded by spending $10 billion on research and development in the hope of creating a benign circle of economic activity: the exciting demand for new products creates employment, which in turn results in more money for more workers to buy still...
...bankers to produce enough cash to shore up shaky New York banks, put together a number of independent companies in 1901 to form the $1.4 billion United States Steel Corp. During World War I J. P. Morgan & Co. was the banker for the British government, raised $3 billion to buy war supplies...