Word: sprees
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Dates: during 1960-1969
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With surprising unanimity, economists and bankers in and out of Britain agree that Wilson waited too long to clamp down on domestic consumption. Forewarned that curbs were coming and fearful of higher prices, Britons went on a spending spree. Consumers not only bought up imports but helped to keep British industry from taking much advantage of its opportunities to sell abroad. "We definitely miscalculated by delaying as long as we did," admits Wilfred Brown, the Board of Trade's minister of state for exports. Even after Wilson belatedly imposed austerity measures-heavy new taxes, tight wage controls...
...more on controlling the money supply to regulate the pace of business. During the second quarter of this year, the amount of money in circulation rose at the inflationary rate of 10% a year. Many economists now contend that this was an underlying cause of the worrisome consumer-spending spree. Argues London's influential weekly, the Economist: "The British government's views on money supply are completely out of date...
...Hills. A Marlboro-type man is seen puffing happily in a duck blind. Cut. The sound track plays Smoke Gets in Your Eyes while a Winston kind of couple revels in a shipboard romance. Cut. A Salem-style twosome, high on tobacco and each other, enjoy an apres-ski spree. How can such a splice-up of burnt-out cliches sell cigarettes? That's the point. The voiceover during the 60-second spot has been saying right along: "Cigarette smoke contains some interesting elements: carbon monoxide, formaldehyde, benzopyrene, hydrogen cyanide. Cigarette smoke has been related to increased rates of lung...
...possibility rather than a virtual certainty. In any case, many of this year's buyers, whether they prefer U.S. or foreign models, plainly went into the market for the same reason: the time had come to trade in cars that they had bought during the previous record sales spree of three years...
...continuing spending spree, reported the Commerce Department last week, swelled the nation's gross national product during the year's third quarter to a record annual rate of $870.8 billion, an 8% increase over the comparable quarter of last year...