Word: depressionitis
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Dates: during 1950-1959
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The man who made the most sense about the U.S. economy last week was Vice President Nixon. He ignored, for the moment, the economic thermometers that showed the cost of living at a new high, and unemployment compensation at a new high, too. He gave the body-economic a couple...
"We can state this categorically," said white-tied Richard Nixon to a banquet of the American Newspaper Publishers Association in Manhattan. "There will be no depression in the United States."
Smith: But I doubt it's the way to solve the depression. It would make the deficit too big and it would be too demagogic to do good where it is most needed.
Smith: I prefer less spectacular methods. Public works is a good starter, especially since many projects, such as highways, need doing anyway. Housing should be stimulated, and I have the pious but not unreasonable hope that we can get better houses. Urban renewal is a necessity, depression or no. Unemployment...
Smith: True. And the depression-or recession-is a good excuse for a lot of political-economic folly-farm subsidies, xenophobic trade measures and things like that. What we really need, to use a businessman's trite expression, is a truly sound economy-growth and expansion, yes, but tempered...