Word: dipped
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...road company of The Caine Mutiny Court Martial, starring loquacious Actor Paul Douglas as loquacious Captain Queeg, wound up its tour of the South seven weeks ahead of schedule. Reason: Mutiny Producer Paul Gregory feared "a big dip" at Dixie box offices because Philadelphia-born Douglas blabbed to a North Carolina reporter (TIME, Feb. 7) that the South "stinks" and is "a land of sowbelly and segregation...
...start of the Korean war. Reasons: a month-old strike at the big Northern Rhodesia mines, and rising European demand. Although copper prices steadied at 33? a lb. in the New York market. London was offering 44? and up. As supplies grew short, the U.S. Government refused to dip into its low stockpiles, instead banned the export of all domestic refined copper, limited copper scrap export to 12,000 tons for February and March...
...eager to make new jobs, to acquire new tools of production." Faith & Hope. Last week Ike reported that the contraction had proved mild indeed. Slashed Government spending and private inventory liquidation had dropped a total of $24 billion, but the economy as a whole (gross national product) dipped only $14 billion. Clearly something was holding it up. The U.S., said the President, had followed "policies that inspired widespread confidence on the part of people." And, just as the President hoped they would a year ago, the people took it from there: "Consumers maintained a high rate of spending, businessmen kept...
When the U.S. sneezes, according to an old economic adage, the world catches pneumonia. But that was in the days when the U.S. economy was operating on such a narrow margin that even a slight downward dip would dry up imports and thus help depress business everywhere. In 1937-38, for example, industrial production dropped 21% and imports dropped 36%. But in 1954-to the delight of the free world and the consternation of Communists everywhere-the U.S. in a recession still proved to be so strong that its case of sniffles hardly affected world trade...
...fight for flexible supports-and farmers, like investors, seemed willing once again to take a chance-the surplus commodities held by the Government totaled $6.6 billion at year's end v. $4.2 billion in 1953. Union labor, which was as cautious as businessmen during 1954's dip (strikes were at the lowest level since the war), was sure to come to the bargaining table with big, new demands. The key issue: the guaranteed annual wage. The promised cuts in excise and corporate taxes would probably be postponed. The bookkeeping budget in fiscal 1956 would have a deficit...