Word: market
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Dates: during 1940-1949
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...midsummer-but that by autumn they had started to come down. U.S. businessmen who had been preaching to the world that production-and not rationing and controls-was the cure for inflation had finally shown the preaching to have the ring of economic gospel. The buyers' market swept in with old-fashioned price-cutting competition...
Exit: Bull? If it had, it did not stay long. The industrial averages rose to 193.16 before the baby bull, scared by the Berlin blockade, the threat of war, and a possible squeeze on profits, languished and died. On the election of President Truman the market fell 10.82 points in a week, the worst break since the spring of 1940. At year's end the averages were at 177.30, down slightly from the year's start, and Wall Streeters were more confused than ever on whether the market was bound up or down...
Enter: Bull. The stock market paid little heed to the fat profits or to any of the other household gods that traders once swore by. Ever since it had collapsed in fear of a recession in 1946, the market had been seesawing, trying to make up its mind whether the boom had really come to stay. Looking at some of the props under the boom-plant expansion, ECA and rearmament orders-investors celebrated the tax cut by finally placing their bets...
...stocks, Dow-Jones industrial averages went from 180.28 to 191.06, and the rail averages went from 57.97 to 62.27. Both of them "broke through" their previous high marks, established in 1947. For the large number of investors who swear by the Dow Theory, the "breakthrough" meant that the bear market was finally over, the bull market had arrived...
...entire industrial plant of the South was thus brought to a standstill. Cities soon had no products to exchange with the farmers for food, and the result has been an ever-increasing urban black-market in agricultural products...