Word: overexert
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Dates: during 1950-1959
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Federal Reserve Chairman William McChesney Martin, who feels that the economy is suffering from indigestion or overexertion but that it is healthier now than it was three months ago, says: "Nothing can prevent our recovery going to higher levels of activity than we have heretofore except our mishandling of the patient by shooting in hypodermics, giving drugs at a point where the patient will continue to overexert himself and eventually put himself in a much worse position than he is at present...
...judgment that the present condition does not warrant such action." In that he was in tune with FRB Chairman William McChesney Martin Jr., who still regards inflation as a major danger. Added Martin: "If I'm right in thinking that this strong, robust economy is suffering from overexertion, nothing can prevent the recovery of the patient-unless you give him a hypodermic that leads him to try to overexert himself again...
...executives, particularly since the President's heart attack, are uneasily aware of the mental and physical effects of overstrain. However, when they think of relaxation, the majority think in terms of strenuous, competitive recreation, such as golf. But the trouble with such sports is that businessmen tend to overexert and fret over their performance. And in recent years the golf course has become a kind of office with trees, where businessmen are as intent on arranging ways of raising their incomes as on lowering their scores. Says Norman Livermore Jr., California lumber-firm executive and onetime athlete...