Word: crediters
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Dates: during 1950-1959
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...Okies who seized opportunity in the midst of discouragement. Burly (6 ft. 3 in., 300 Ibs.), booming Hollis B. Roberts was one. Wiped out after five struggling years in the Texas dust bowl, Roberts sold his runty cattle, his house and farm equipment, bought a 1929 Chevy on credit, and with $75 in his jeans, started out for California. In Yuma, Ariz, he joined other stranded Okies who had run out of cash, cadged a job pitching hay at $2.70 a day. In return for milking his landlord's cows every morning, Roberts got a rent-free two-room...
Businessmen found less cheery news on the credit front. Money was about as tight as in November, when the Federal Reserve Board cut its discount rate from 3½% to 3%, and there was a growing grumble of complaint about it. Last week Harvard Economist Sumner Slichter added his voice. Tight money, said he, is actually defeating the Fed's purpose of fighting inflation. Wrote Slichter in Business Scope, a biweekly published by professors: "The present recession is largely the result of overdoing credit restraint, and is causing us to consume valuable inventories of goods and to reduce...
Ectoplasmic Uplift. Lerner deserves credit for recognizing, in disagreement with the Toynbee-esque patternmakers, that the U.S. is not merely a subdivision of Western civilization but, despite acknowledged Western roots, a truly new world under the sun. Yet this vision, like a few others, just barely flickers through the verbal fog banks. Readers who get as far as page 673 will sharply question Lerner's assertion that the U.S. is in a "moral interregnum," distrusting the old gods and uncertainly waiting for new ones, and that (page 947) America is on a descending arc of "inner social and moral...
...industry expects a 5% to 10% rise from then on, expects to turn out 105 million to 115 million tons for the year as a whole. Construction value will probably increase 5% to a record $49.6 billion, including a hefty 8% boost in housing due largely to easier credit...
...veteran Music Man Willson still acts like a wide-eyed Iowa innocent. He is bowled over by the thumping success of his first musical ("I'm on Cloud 9012"), lavishes credit on the whole company for its "wholesome" approach to the job. "You hear all this business about Broadway sin and sex and smoke-filled rooms," Willson says, "but this company is different. It really is. Our kids weep with joy over the show, that's how much they feel about it. Do you know there hasn't been a gripe, not a bit of hysteria...