Word: nationalizing
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Dates: during 1950-1959
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...economy. But it is not too high in the light of the earnings investors think they can expect. Nevertheless, some experts expect a pause or short drop for the Bull to catch his breath. The pessimists fear a major shakeout. They could be right only if the nation's reading on its new economy is wrong. And in 1958 the economy's reaction to recession earned it a well-deserved vote of confidence...
...year long the Eisenhower Administration staunchly resisted temptations to buy its way out of recession, although it speeded up and enlarged present housing and social security programs as antirecession measures. It gave the economy's carefully built-in stabilizers a chance to work and relied on the nation's own basic good health to recover from the slump...
...manager of the nation's money supply, the Federal Reserve Board operated its credit tools with a delicate touch, lowering member-bank discount rates and reserve requirements. But there...
...wholesale flood of credit. In the new economy so many other financial institutions -insurance companies, finance companies, savings and loan associations-have grown up that the nation's credit pool is increasingly independent of the FRB. Nor was Chairman William McChesney Martin Jr. in any tearing hurry to force feed the economy. Said Martin: "During a boom, waste and inefficiency creep in naturally. It's hard not to believe that recession does a lot of business a lot of good...
Luxury & Convenience. No one learned the lessons of innovation better than the nation's butchers, bakers and grocerymen. People tend to think of food as a standard, largely static item. But in 1958's new economy, nearly 50% of the products sold were not available in their present form at the end of World War II. By offering the consumer a constant parade of new ways