Word: buying
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Dates: during 1950-1959
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...Government no longer feels bound to buy its way out of recession with tax cuts and many-billioned programs of every type. In the new economy, built-in stabilizers automatically operate to take up the slack, keep income, and thus consumption, at high levels...
...rush to buy was so great that trading had to be suspended for 1½ hours. When it was resumed, A.T. & T. sold at $225 a share, up $23. Earlier in the year A.T. & T. had another profound effect on the market. In September, it decided to put $260 million of its pension fund into common stocks. It was a signal that to one of the most conservative investors in the nation, stocks were not only respectable but prudent investments...
...Great Shortage. Inevitably, the rush to buy-and the reluctance to sell-created a shortage of stocks in 1958. Though the number of shares on the exchange has increased 400% (to 5 billion) since 1929, the number of long-term investors has probably grown 20 times. The year saw the fourth highest turnover in history; yet turnover as a percentage of shares outstanding was lower than in 49 out of the past 58 years. To make matters tighter, the number of new shares coming on the market had been small. The tax advantages of debt financing are so attractive that...
...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...
...recession local-and then turning it around-was the monied U.S. consumer, the same man who, as investor, sent Wall Street's Bull to the moon. By old-fashioned doctrine, recession is a time when consumers cut down their spending. In 1958 the confident U.S. consumer continued to buy, and then some. He became the economic hero of the year-and demonstrated several other facets of the new economy...