Word: said
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Dates: during 1950-1959
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...remained was Boston-born David Park, and in 1951 he abruptly turned his back on abstract expressionism and won an award in the San Francisco Annual for a painting, Boys on Bicycles, in which the boys were boys, and the wheels were round. "As you grow older," Park said, "it dawns on you that you are yourself-that your job is not to force yourself into a style, but to do what you want." The result was to sire a new and on the whole gentler generation of San Francisco figure painters, most conspicuous of whom is Richard Diebenkorn (TIME...
...some conservative dealers complained. Said an icy-eyed observer of the new German collectors: "The way the market stands today, there is simply not enough stuff available, so anything goes. Career girls and young couples invariably start with a 'genuine' baroque angel cum gilded wings. A stabilized bank account calls for a Biedermeier dining-room set. The first sign of real affluence is a Gothic Madonna-polychrome for beginners, and Riemenschneider brown for the sophisticated. Real collecting comes later...
With U.S. consumer debt at a new high, a top Government economist last week issued a stern call for credit caution. Raymond J. Saulnier, chairman of the President's economic advisory council, told the nation's bankers not to go "overboard" in increasing consumer installment buying. Said Saulnier at the American Bankers Association's annual convention in Miami: "I hope we do not get involved this year or next in a great splurge of consumer expenditure propelled by credit expansion...
...said Saulnier, a too rapid expansion of credit caused overbuying of autos and other consumer durables, helped bring on the recession of 1957. If consumer installment purchasing increases too rapidly now and after the steel strike, Saulnier fears U.S. consumers will overreach themselves, bring on a decline...
...rise was viewed without alarm by the nation's bankers. The A.B.A. found that the increase has not brought any decided boost in interest rates since June. Even though the prime rate on business loans has been raised to 5%, most banks said that they were keeping installment rates at about the same levels as early in the year. The Chase Manhattan Bank, in its bimonthly letter, also saw no danger in the increase in installment loans. Although the rate of installment credit is growing faster than in 1955, said the Chase Bank, consumer income is now larger. Despite...