Word: droppings
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Dates: during 1950-1959
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Like sleet out of a grey winter sky, gloomy economic reports pelted out of Washington. The December industrial-production index drooped 7% below the level of December 1956. Personal income fell off in the steepest monthly drop since the alltime peak of last August. Year-end unemployment edged up 200,000 to 3.4 million to make it 5.2% of the labor force, the highest December rate since the recession year...
...Furthermore, both states are pressed for cash and would like to get some of the money going to New York. The governors descended on New York's Governor Averell Harriman, another Democrat. But Harriman was cool to their heat: New York is already worried about a $20 million drop in all revenue. There may be discrimination, he agreed, but tax laws cannot be written to take into account every individual's situation." To study the situation further, the governors set up a tristate committee of tax experts...
...denies that, taken together the economic indicators have correctly mirrored the downturn in the economy. But just as the main indicators exaggerated the rise by failing to note price hikes and ignoring some slumping areas, so now they are apt to give an exaggerated picture of the drop since they ignore segments of the economy that are steady or rising. So great is the latitude for individual interpretation that last week three of the nation's top economists, looking at the same set of indexes, made three different conclusions. One saw an upturn coming "during the year" another hazarded...
...current activity only in mining and manufacturing, which have been declining and ignores both construction and public-utilities output, which have been rising steadily, as well as the service industries, which employ the majority of workers and change very little during boom or recession. Thus the production index has dropped 7-4% in the past year, even though there has been nothing like a 7% drop in all economic activity. Says a Government economist, "People take a 1point drop in the industrial index as being more serious than...
...cooling off in his little Spanish police-cell, tried again to piece together in his hot red mind what in all strange hell had happened." He is tantalized by a fleeting vision of beauty-a girl he thinks he once loved. But as pieces of the mad mosaic drop into place, it becomes clear that he is not facing a beautiful girl but a harridan with blue-rinsed hair and "grey old teeth that licked at him with such a smile of knowledge." In the end, the knowledge comes to him that his fate is at the mercy...