Word: flooded
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Dates: during 1950-1959
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...Flood of Optimism. The nation's bankers promptly passed along to their customers the price increase on borrowed money. Big eastern banks hiked the prime rate, i.e., the interest they charge big borrowers with top credit ratings, from 3½% to 3¼%. On the stock market the change was taken in stride. Two days earlier Wall Streeters sensed that some anti-inflation move by the Government was due, and stocks took their sharpest slide in six months. But before week's end stocks steadied again...
More than anything else, what finally made up FRB's mind was the spring flood of optimism, cheering reports of first-quarter earnings (see below), the big expansion plans of U.S. businessmen, the big spending plans of the U.S. consumer. Retail trade for March, said the Commerce Department, climbed 2% over February and 4% above March of last year. After a survey of economists and businessmen, the U.S. Chamber of Commerce predicted that consumer incomes will go up 3% to 5% this year, and that all of this $8 billion to $14 billion will be spent...
...FEDERAL FLOOD INSURANCE is making headway in Congress. The Senate Banking Committee has approved a bill calling for a $5 billion program to insure both businessmen (up to $250,000) and home owners (up to $10,000) against a repetition of last summer's disastrous floods. Under the plan, still to be passed by the full Senate and House, the Government will pay 40% of the cost, with property owners chipping in between $2 and $10 per $1,000 of insurance...
Harris charged the administration with a lack of honesty in its dealings with the public. While Republicans promise one course of action and carry out another, he continued, Stevenson will say only what he believes he can deliver. It is hypocritical when, after promising help for schools, flood insurance and other items, the budget has no substantial provisions for following up the statements...
...government's tightening of consumer credit, including a hike in the minimum down payment on new cars (to 50% of the purchase price), hit the industry where it hurt most-in the domestic market. In the immediate postwar drive for exports, Britain sent a flood of cars abroad. But when the government stopped allocating raw materials on the basis of exports in 1952, British automakers shifted to the easier home mar ket. In 1951 Britain turned out 475,919 cars, exported 366,622, but in 1955, when production had nearly doubled to 897,560, exports increased by only...