Word: sagging
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Huge Debts. The President's other big problem is an economy dragged downward by the Rojas regime's extravagance and the estimated $70 million sag in coffee income this year. The junta made a start by imposing what Colombian businessmen call "organized recession," including severe import restrictions on everything from toothpaste to typewriters. The cost of living is still climbing at a rate of 20% a year, and Lleras warns that if coffee prices are not stabilized, "this country may explode...
What Odds? In the long sag of peace, this leathery bantam spoiled for a mix. Everything Claire Lee Chennault did, he did belligerently. With two flying sergeants, he barnstormed the land in three precisely flown P12 pursuit planes - the famed "Three Men on a Flying Trapeze" of the air shows. What he wanted to prove was that precise and darting aggression spelled air power, but nobody cared. And when his noncommissioned wingmen flunked their tests for commissions, his gorge rose hot as a Louisiana pepper, and he resigned his own commission, saying: "I'm glad to get out. They...
CONSUMER GOODS Furniture Sag...
JOBS UP, frontpaged the Cleveland Press. IDLE DOWN, headlined the Washington Daily News. What they had to report was not so much a rise and a fall as a direction: for the first time since the economy's sag set in nearly a year ago, the U.S. Government was able to report last week that unemployment had dropped at more than the usual seasonal rate. In a joint release, the Commerce and Labor Departments announced a May unemployment total of 4,904,000, down 216.-000 from April. The unemployment percentage shrank from 7.5% of the labor force...
...Detroit could produce, and wartime business became even bigger." A University of Michigan economist recently warned that even after the U.S. recession is past Detroit will still have a serious hard core of unemployment to worry about. Basic reason why Detroit is in trouble, apart from the current auto sag: the auto companies have been gradually moving out of Detroit for more than a decade, and not enough new industry has moved in to fill the gaps. And in the remaining auto plants automation is steadily shrinking the need for workers...