Word: slump
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Dates: during 1930-1939
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Basic theory of New Deal economy has been that the Federal Government should spend in lean years, save in fat ones. Last week, while many another U. S. citizen had begun to wonder whether the country was on the verge of a major business slump, the President made it clear by his saving intentions that he finally felt that the lean years were over. The week began with a new budget estimate showing a net deficit of $695,000,000 for fiscal 1938, $277,000,000 more than had been estimated last April (see p. 19). During the rest...
...second shock was less spectacular but more illogical. Three weeks before the current market slump began in industrial stocks on Aug. 15, railroad shares had started down as the public gradually became aware of the fact that railroad operation costs had grown much faster than revenues (TIME, Sept. 13). With this crisis becoming more acute, the decline in railroad shares dragged down simultaneously the operations of many a basic industry, best example being steel. Hobbled by several factors, among them curtailment of railroad equipment orders,* steel production last week stood at 55.8% of capacity down from its spring high...
...Bowl bid-this time from Stanford, and this time he tied one of Glenn ("Pop") Warner's greatest machines 7-to-7. Having thus produced two teams which some experts rated as highly as any in the U. S., methodical Coach Wade proceeded to go into a relative slump until 1930, when his last and probably best Alabama team crushed all opposition, won the Southern Conference championship, went to the Rose Bowl and sensationally overwhelmed Washington State...
...whether Mr. Roosevelt cares to express an opinion on the subject or not, the country is nevertheless on the brink of another business recession which bids fair to be the equal of the 1930 secondary slump. The stockmarket, the most obvious barometer, though not necessarily the best, has been on the down grade for many weeks, and although the break in prices is not yet entirely reflected in the production indices, that is simply because manufacturing companies are still filling orders born of summer optimism. Car loadings are just holding even, and after the unusually large farm crops have been...
...Wielder of a style of unmatched clarity and precision, master of the art of conveying emotions, particularly violent ones, with an effect almost of first-hand experience, he seemed to have established himself as the most powerful direct influence on contemporary literature. After these three books, however, came the slump. Apart from Win, er Take Nothing (1933), a volume of short stories, the eight succeeding years saw only two books, both failures. To most readers Death in the Afternoon (1932) was an impossibly verbose testimonial to the author's enthusiasm for the spectacle of bullfighting. Green Hills of Africa...