Word: sound
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Dates: during 1980-1989
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...Joseph Tierney is no alternative to Flynn on issues of housing," says Yotts--but he adds that he and his community want to know "why Flynn can't figure out some formula to force integration on the more economically sound people than to force it on the indigent...
Howard Baker and his deputy, Kenneth Duberstein, brief Ronald Reagan on the crash. White House Spokesman Marlin Fitzwater is instructed to issue a few calming words: "The underlying economy remains sound...
Also as usual, the portents went largely ignored. People yearned to believe what the authorities told them. Calvin Coolidge, on turning over the White House to Herbert Hoover earlier that year, had pronounced the U.S. economy "absolutely sound." Charles E. Mitchell, chairman of the National City Bank of New York, echoed the former President in early October by declaring that the "industrial situation of the U.S. is absolutely sound, and our credit situation is in no way critical...
...would never end. What almost nobody seemed to notice was that while the leading stocks kept climbing, many others did not. Celanese, for example, had dropped from 118 to 66 since 1927, Philip Morris from 41 to 12. The speculators also did not seem to notice that the allegedly sound economy had started slowing. By October of 1929 the Federal Reserve index of industrial production had dropped from 126 to 117 since June. Homebuilding had been down for several years, and farming had been in trouble since the early 1920s...
...take place in one or two days. It stretched out for weeks, gathering momentum through the autumn. On the day after Black Thursday, President Hoover bestirred himself and declared that the "fundamental business of the country, that is, production and distribution of commodities, is on a sound and prosperous basis." Share prices remained stable that Friday and Saturday. (Yes, markets were open on Saturdays, from 10 a.m. to 12 noon, until...