Word: peakes
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Dates: during 1960-1969
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...request, a task force of economists headed by M.I.T. Professor Paul Samuelson, one of Kennedy's most trusted counselors, delivered a thick report which warned that 1) the slump is bad, and 2) it could very easily grow worse, with unemployment topping the post-World War II peak of 7½% Among other things, it urged fat federal unemployment subsidies to guarantee every jobless worker at least 50% of his wages for 39 weeks; big Government spending programs for health, welfare, urban renewal, school buildings and teachers' salaries; more construction of highways, post offices, military bases, etc. Cost...
...rise, bringing an automatic 2?-per-hr. cost-of-living wage increase for some 225,000 U.S. workers, chiefly in the meat-packing and aircraft-missile industries. The Bureau of Labor Statistics reported last week that a jump in food prices pushed the cost of living to a new peak in November of 127.4 (1947-49 = 100), up from 127.3. It was the first food price increase in November since...
...past, some hot tips have put the tippers in hot water. Two years ago Speculator Louis Wolfson, then chief stockholder in American Motors Corp., announced that he was selling his American Motors stock because he thought it had reached its peak. Actually, he had already sold out, and sold short, hoping the stock would drop, making him additional profits. SEC quickly stepped in and froze his holdings. Result: when the stock rose instead of dropping, Wolfson lost heavily...
Published last week, the 1960-61 Jane's reported that the Russian navy now has four times the submarine strength that Hitler had at peak strength in World War II. By Jane's estimate, the Russians have six nuclear-powered subs, ten guided-missile types, more than 425 other submarines ranging from large ocean-going types down to seagoing patrol subs, medium-range subs and former German U-boats. In a foreword Editor Raymond Blackman observed that in "some quarters," it is still said that Russia's nuclear-powered submarines are not yet operational, but "this ostrich...
EUROPEAN STOCK MARKETS are losing their bullishness. Value of stock on the Milan Exchange has declined 40% in past four months. Paris Exchange has slipped 10% since its 1960 high last August; London has retreated 12% from record peak. Only West German market is still strong, is expected to finish the year with stocks 29% above 1959. One result of the decline: less U.S. money and gold will go abroad...