Word: inflationitis
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Dates: during 1960-1969
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With that kind of deficit at a time when inflation is still around, a tax increase would normally be called for. In fact, it should have come earlier in the year, when Johnson and Defense Secretary Robert McNamara first saw that a good deal more money would be needed to...
Apparent Signs. At the beginning of the year, there was a chance to cool the economy's growing inflationary fever through a combination of moderately higher taxes and slightly tighter money. With an election in the offing, the President chose not to raise taxes then. With that, the Federal...
When the 1964 Brazilian military coup ousted Leftist Joao Goulart and installed President Humberto Castello Branco, one of the country's most desperate needs was an infusion of private foreign capital. Goulart's free-spending ways had so fanned chronic inflation that the annual increase in the cost...
By the time Kurt was in high school, the ruinous inflation of the 1920s was sweeping Germany. Deciding to become a teacher, he left Ebingen for a small Catholic academy in a nearby town, where he got a first-class education, mastered the organ, piano and violin, and became something...
2) mismanagement of the economy by the Administration, leading inexorably to "Johnson inflation" and voter disenchantment.