Word: inflationitis
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Dates: during 1960-1969
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In South Viet Nam, an equally permissive atmosphere has been bolstered by war and galloping inflation. Though Premier Nguyen Cao Ky's hands appear clean, the resort town of Dalat is dotted with the elaborate villas of his generals, whose modest salaries are obviously being supplemented from other sources...
The man who authorized the Fed action, Chairman William McChesney Martin, has recently stated that the "main need of the economy" is prompt action by Congress on the Administration's tax plan. Because there is always considerable opposition in Congress against such unpopular tax proposals, it is one that much...
"Ruinous Spiral." Without the surcharge, the President argued in his ten-page special message, the deficit could cause "a spiral of ruinous inflation which would rob the poor, the elderly, the millions with fixed incomes; brutally higher interest rates and tight money; an unequal and unjust distribution of the cost...
The market was strong partly because many investors again see portents of inflation, and stocks are considered a sensible hedge. Also, there was economic news to balance the tax message. New factory orders and construction contracts are increasing, inventories are decreasing, and steel production took an upward turn. While reporting...
"Americans have never been so overcommitted in foreign entanglements," thundered a recent editorial in the Deseret News. "Never have their natural resources been so extravagantly used, never has the national deficit been so great except in times of all-out war, never have taxes been higher, inflation more out of...