Word: recessional
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Dates: during 1950-1959
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The kind of U.S. that the Democrats were dreaming about just a year ago could hardly have voted any other way than Democratic in the 1958 elections. It was a U.S. of recession, rising unemployment, farm poverty, militant unionism, weakened defenses-with executive decisions dominated by Congress and civil rights...
Foreign Scandal. Within the past year came the recession and layoffs. As the last hired, Negroes were the first fired. In Nottingham, a textile city of 312,000, where Negroes constitute less than 1% of the population, they make up 20% of the unemployed. Fist fights between whites and Negroes...
Cash Needed. But IMF does need cash. In boom, recession or crisis, the trend is toward increasing demand. Since Suez the fund has passed out in hard money loans some $2.7 billion, or two-thirds of all its outlay since the IMF was organized. Moreover, quotas have become unrealistic. Booming...
Damning the Deficits. There was unemployment, still close to 5,000,000. "There may be prosperity again on Wall Street,'' the Executive Council declared, "but for the millions who are unemployed, the recession remains a continuing stark reality." The council's damn-the-deficits prescription: wage boosts...
Business statistics provided some hindsight last week on just when the economy started to turn around and how fast it is recovering. The recession lost most of its steam during 1958's second quarter. Now, as the National Association of Purchasing Agents said, "business recovery is proceeding slowly, with...