Word: grosse
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Dates: during 1950-1959
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...Economist J. Frederic Dewhurst issued a 1,148-page statistical description of the present economy, plus a projection of what the U.S. would be like five years hence. Dewhurst's key prediction, on the assumption that U.S. peace arid prosperity will continue, is that 1960's gross national product will be $413.5 billion, up 29% from 1950, 16% from 1954. The U.S., with less than 7% of the world's population, already produces one-third of all the world's goods and services, almost one-half of all its factory products. U.S. total output...
...individuals will be saving a smaller portion (5.5%) of their disposable income than they do today (7.7%). But gross private savings (including corporate) will have climbed 33% in the decade, to $62.5 billion, v. $52.8 billion last year. Gross capital investment will also be $62.5 billion in 1960, up a healthy 37% from...
Although imports will rise less than gross national product, they will reach $11 billion in 1960, a 26% gain during the decade. Biggest gainers will be bauxite (up 97.5%), crude oil (up 103%) and iron ore (up 300%). Biggest losers: tin (down 5%), wool (down 10%). Assuming that foreign aid ends, exports will edge up only 1%, but they will all be paid for. U.S. capital outflow will have doubled...
Help from the South. The Milan fair was an accurate reflection of Italy's growing boom. Gross national product jumped by 5% last, year, even though drought lopped 2 billion tons from the normal 9 billion ton wheat harvest; industrial production was up nearly 10%. Crude-steel production topped 4,000,000 tons and auto production increased to 215,000 cars and trucks, both alltime records. An important new oilfield has been tapped on the Adriatic coast, while Sicily's Ragusa field (TIME, Jan. 25, 1954) has four producing wells, with a fifth...
Banging his fist on his desk, Nehru declared that NATO is "a powerful protector of colonialism," which has had the "gross impertinence" to hint to India that it would protect Portuguese Goa. "We should not take any sides in the cold war," said Nehru. "It is an intolerable humiliation for any nation of Asia or Africa to degrade itself by becoming a camp follower of one or the other of the power blocs . . . We will not join either bloc because that means losing our identity...