Word: recessional
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Dates: during 1950-1959
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Time to Digest. In the sense that the drop was the fastest and deepest, the recession was the worst since World War II. The gross national product lost $19.8 billion in six months. It was also the most carefully reported, closely analyzed and best understood of the three postwar recessions...
No wonder the Bull could flick his tail at recession. The 1958 market kept climbing, not a bit disturbed by threats of war in Lebanon and Quemoy, and bad corporate news that showed a 30.5% drop in six-month earnings. The new investors were looking at other values. As steel...
The market also proved that the new economy is so big and so diverse that many industries once considered the driving forces can slow down without bringing a traffic jam throughout business. The tobacco companies, the supermarket chains, drug and electronics companies all had record or near-record years despite...
At year's end some Wall Street professionals worried that the Bull had overreached himself, that the market had gone too high too fast. A few years ago, a stock that was selling for 15 times its earnings was considered expensive. At year's end the price-earnings...
The immediate reaction of many politicians and businessmen was to call for the classic remedies. They cried for tax cuts, a mammoth government make-work program, many more billions for old-age pensions and unemployment aid. All year long the Eisenhower Administration staunchly resisted temptations to buy its way out...