Word: peakes
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Dates: during 1950-1959
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...third quarterly report on defense this week, Mobilization Boss Charles E. Wilson let drop some bad news. The rearmament program is lagging so badly that the peak in expenditures, originally scheduled for next July, will not be reached until October, 1952. Most of the lag, said Wilson, has been caused by temporary bottlenecks in fabrication and assembly, not by manpower or raw materials shortages. In the last three months, he estimated, deliveries of military goods rose by one-third to $5 billion. Wilson expects them to double within the next year...
...Soon, the Reds had the ridge again. This week U.S. forces once more attacked. On the eastern front, U.S. Marines pulled off military history's first airborne operation by helicopters. It was necessary to post a battle-ready reconnaissance company on top of a 3,800-ft. peak. The height was not defended by Reds, but if the marines had made the grueling two-day climb on foot, toting their gear, they would have been too bushed to fight off possible counterattacks. Six big Sikorsky HR51 helicopters, hugging the valleys to avoid enemy fire, reached the peak...
From what they have read so far, glaciologists suspect that since the last major ice age the earth's climate grew gradually warmer until about 5,000 B.C. Then the cold came again, and the glaciers reached a secondary peak about the time of Christ. Again the climate grew warm, allowing Scandinavians to live happily in Greenland. Then came another cold period and the Greenland Norse disappeared...
Steaks on the Hoof. The paradox is that the U.S. is short of meat when it has more beef on the hoof than ever before in its history. By year's end, there will be an estimated 90 million cattle on the ranges v. 1945's alltime peak of 85,573,000. Yet, because of OPS snarls, 10% fewer cattle are now being slaughtered than last year. And despite record meat prices, packers, who traditionally make only 1? on every $1 of sales, can hardly break even (Armour lost $1,600,000 in its latest quarter...
...Long & the Short. The big question now is: Is the market at its peak? Wall Street is full of bears who believe that it is, and that it is in for a major tumble. Many of their reasons are technical (e.g., the fact that railroad stocks have lagged so far behind the industrials); others are practical. Many corporate earnings have already been cut by taxes and cutbacks in civilian production. The new tax bill will take still heavier bites out of profits. Example: estimated profits of U.S. Steel will be cut from $3.61 in the first six months of this...