Word: slowdown
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...went out with a broken gearbox after only ten hours, and the last of the Ferrari factory prototypes ground to a stop six hours later with a blown head gasket. With Fords running one-two-three and no more challengers in sight, Team Manager Carroll Shelby ordered a slowdown. Then Beebe got an inspiration. To make the inevitable Ford victory all the more impressive, he decided to stage a deliberate dead heat between the leading Mark Us-No. 1, driven by Miles and Denis Hulme, and No. 2, piloted by New Zealanders Bruce McClaren and Chris Amon. Headlights blazing...
Inflation by Anti-Inflation. The April figures would certainly suggest that inflation is no longer nearly so inevitable as it seemed only a few weeks ago. Yet no sooner did the slowdown statistics come through than out came the cost-of-living index. It is based on the U.S.'s last significant inflationary period-1957-59-and for April, as it had in the three previous months, it showed an increase. This time the index was up by 3.5%, to a level of 112.5, meaning that last month it required $112.50 to buy what a consumer was able...
...MILLS B. LANE JR., president of Atlanta's Citizens & Southern National Bank: "You know we Americans always overdo things, whether it's an ice cream cone or Scotch and soda. In not too long, we'll be looking for ways to stimulate the economy. The slowdown is beginning already...
Thus the economy of the 1960s has shown a fantastic resilience to shock and slowdown. It has surmounted such strains as sluggish demand in 1961, a stock-market plunge in 1962, the assassination of President Kennedy in 1963, a foreign monetary crisis in 1964, and the Viet Nam escalation in 1965. The problems of 1966 and beyond seem infinitely greater than earlier ones. But so, too, are the opportunities...
Parsimony & Patriotism. President Johnson's economists still hope for a second-quarter slowdown, and they have several factors working for them. Defense spending should climb by no more than $1.5 billion in the second quarter, and by $300 million each in the third and fourth. Businessmen may well pare their capital investment because of labor shortages and delays in deliveries, not to mention Johnson's appeals that equate parsimony with patriotism. As for consumers, the higher payroll withholding taxes beginning next week will cut their disposable income by $150 million a month.* And the speed...