Word: korean
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Dates: during 1950-1959
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Wars and rumors of wars usually cause commodity prices to rise. In the first 60 days of the Korean war, commodities went from 146.53 to 179.54 on the Dow-Jones commodity futures index. The current Mideast crisis has brought no such rise. In the two weeks since the Iraqi coup, the index actually eased down from 156.64 to 156.63. Said R. G. Patterson, director of Lamson & Sessions Co., a Cleveland metal fabricator: "We see no signs of scare buying. Nobody is excited...
...Nervous Nellies cheated the United States out of victory in the Korean War, and one such experience was one too many...
...Formosa to prepare for the Nationalist retreat, and arrived in the midst of much highhanded Nationalist treatment of the local population. Formosans remember him as their best Chinese governor, a man who "made no promises, did not brag and was very strict." When Chiang made him Premier during the Korean war crisis, Chen fired corrupt officials, introduced the government's first modern budget...
John Fox was everything a newspaperman should not be. Under the name Washington Waters he wrote a financial column with some of history's most thunderously wrong predictions, e.g., that the Korean war would be a good time to sell short because of a falling market. A frenetic promoter, he once called in his ad manager and announced: "I've got an idea that will knock the Jews in this town on their butts. We're going to send cows to Israel." He got Bernard Goldfine to donate the first cow toward a project that fell flat...
...purchases of goods and services top $800 million a year. It sells less, and its 1957 balance-of-payments deficit was $265 million. The deficit was redressed mostly by incoming capital, payments of $62.5 million to Puerto Rican veterans (who suffered heavy casualties in the Korean war), and money sent home by Puerto Ricans working in the U.S. Washington's grants-in-aid for such programs as health, housing and highways totaled $41 million (which is a bit more than islanders pay the U.S. Treasury in indirect taxes on imported consumer goods...