Word: crash
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
Nothing about the crash added up. The pilots were among the Air Force's finest. Their T-38 Talon twin-jet trainers are so easy to steer that flyers call them "baby buggies," and the line-abreast loop, spectacular as it looks, is a fairly routine maneuver. One speculation: the leader may have misjudged his altitude or speed, and the other three duplicated his error. Thunderbird Capt. Dale Cook was flying solo that day. Says he: "I really can't speculate on what may have gone wrong. When you are flying in formation you are not just watching...
...Even before Roosevelt came to power, there was a widespread feeling that the crash of 1929 had been something other than an act of God, and the Senate Banking Committee set out to prove it. The hearings from 1932 to 1934 were a revelation. The banker J.P. Morgan, who was believed to be worth more than $100 million, testified that by fictitious sales of stock to his wife, he legally avoided paying any income taxes at all. National City Bank President Charles Mitchell admitted that the top officials of his bank had given themselves $2.4 million in interest-free loans...
...fact that a recession in 1937-38, caused partly by Roosevelt's efforts to restrict Government spending, set back the recovery. Unemployment rose by 2 million within three months; steel production sank by three-quarters, auto production by one-half. For the first time since the great crash, the Republicans made a comeback, gaining seven seats in the Senate and 80 in the House. Just two years after the landslide of 1936, the New Deal's innovations were drawing to an end. The nation's new course, however, remained set. To keep it on that course, Roosevelt...
...words NEW DEAL. It was a message of hope at a time when a naturally optimistic people seemed to be slipping into despair, and with good reason. In the three years since the great stock market crash of 1929, national income had plunged by more than half, from $87.4 billion to $41.7 billion. Unemployment had soared to 4 million in 1930, 8 million in 1931, 12 million in 1932-one-quarter of the entire work force-and in stricken cities like Chicago the figure went as high as one-half. FORTUNE magazine estimated that 27.5 million Americans had no regular...
...collapse of the overinflated stock market therefore started a downward spiral in both demand and the ability to pay. Conservative economists like Milton Friedman, on the other hand, blame the Federal Reserve System for failing to expand the money supply sufficiently in the wake of the stock market crash...