Word: depressionitis
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Dates: during 1950-1959
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Perhaps the problem was more psychological than material-but that did not lessen its seriousness. Last week was a case in point: despite mounting unemployment figures, the Administration was confident of the basic strength of the U.S. economy, and President Eisenhower told why in a special message (see The Economy...
Expressions of confidence, such as made by the President, are faintly reminiscent of Hoover's optimism, which grew progressively stronger as the Great Depression spread westward. Economists more reputable than the President not only claim they will not know the exact causes of the recession until the statistics are all...
Yesterday. Huntsville, on rich bottomland along the Tennessee River 90 miles north of Birmingham, with high hills to the east and west (Wernher von Braun lives on one of them, which has been dubbed Sauerkraut Hill, and is building a home on the highest, Monte Sano), was founded in 1805...
Pilot Beech's only trouble was making a profit: he was no financial man, left most of the details to his wife Olive Ann, and the company barely kept aloft. Cessna had even deeper problems. In the Depression he had to close his plant. What saved the company was...
Sentiment for the small farmer remains as a hangover in American politics. The depression, when agriculture and labor suffered from lack of purchasing power, made this affection a political weapon. Even in good times, farmers do not have the monopoly power other industries have. No one farmer or small group...