Word: markets
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Dates: during 1920-1929
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From the standpoint of the world market there is none; but from the Russian internal market standpoint there is a cruel joker indeed. The facts, as confirmed from Moscow, are that ruthless Comrade Josef Stalin is deliberately robbing the Russian market of things that Russians want to buy, in order to sell those things abroad and reap foreign capital. Thus correspondents humorously described a recent paper famine" in Moscow, although the Soviet Monopoly was even then shipping paper to Persia in thumping shipload lots. The deal was put through by His Highness Timoor Tash, favorite Courtier of the Shah...
Economist Ayres drew deductions, cautiously: "The fact that all bull markets ... in the past 50 years have lasted only about two years does not necessarily indicate that the end ... is to be expected in the immediate future. It is, however, decidedly interesting to note that this present market has now completed its second year of upward movement...
...Sinclair Consolidated. Potent in the amalgamation will be the Cutten interests, represented in Manhattan by Nephew R. E. Cutten, trader for E. F. Hutton & Co. The new company, brokers heard, will not bear Sinclair's oilscandalous name. ¶ Stubborn bears drew little comfort from last week's market. They could only pin hopes on bearish theory...
Able theorizer Col. Leonard Porter Ayres of Cleveland, stubbornest bear, again prophesied a market break. Last summer (TIME, July 23) Economist Ayres saw the stockmarket as "a great national bet against the continuation of high interest rates, and since the Federal Reserve authorities can hardly reverse their policies . . . the decision will probably be against the stockmarket with ... a serious decline in stock prices before the end of the year." With only six weeks of the year left, Economist Ayres last week failed to mention the Federal Reserve, was far less emphatic, based his bearish innuendoes on precedent. He noted...
...Since 1879, there have been 12 bull markets, each lasting about two years. The present bull market has lasted two years...