Word: inflationitis
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Dates: during 1960-1969
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What makes China so inscrutable these days is not the mystery of events so much as their exaggeration. Rhetoric and hyperbole are built into Chinese grammar, and the Chinese by nature are prone to overstatement. None practice verbal inflation with greater verve than the South Chinese, whose largest city, Canton...
Treasury Secretary Henry Fowler was as blunt as he was gloomy. Failure to enact a 10% income tax surcharge, he told Congress last week, would leave the U.S. with "an economy in shambles." Without higher taxes, insisted Fowler, the nation faces "the biggest deficit since World War II, an overheated...
Mrs. Suzman says that her basic function is to keep a toe-hold in Parliament, kep the channels of information open, and try to counter the reactionary trend in South Africa. The conflict in Vietnam has taken much of the world attention and odium away from the regime in South...
Chaos & Catastrophe. "The economy is moving on a course of rapid expansion," said William McChesney Martin, chairman of the Federal Reserve Board and the man who most of all persuaded the President to seek the surtax. Listing rises in retail sales, personal incomes, housing construction and industrial production, an increase...
Lately, under the twin spurs of threatened inflation and easy credit, speculators have been especially active in two most traditional fields: the stock market and the commodities exchanges. "October, this is one of the peculiarly dangerous months to speculate in stocks," said Mark Twain. "The others are: July, January, September...