Word: sputniked
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Dates: during 1950-1959
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...NATION Grey Mood When it's not Sputnik talk, it's recession talk," grumbled a Chicago teen-ager last week. "Doesn't anyone have fun anymore...
...indeed a somber mood that hung over the U.S. Added to post-Sputnik uneasiness about the nation's technological lead over Russia was uneasiness about the economy. Total personal income in the U.S. had sagged in both September and October, the first two-month decline since the post-Korea recession of 1953-54, and most other economic indexes show signs of droop (see BUSINESS...
Psychology & Sputnik. The uneasy sign in the nation's economic picture is not the statistical droop but the mood. If too many consumers postpone purchases out of worry, shrinkage in sales may bring on a real recession. "Psychology," says Vice President Dr. Arthur A. Smith of Dallas' First National Bank, "is the joker in the economy's deck of cards...
...there is also a wild card: the impending Sputnik impact on defense spending. Defense spending is heading upward -and upward, and the words "deficit financing" are showing up in private Washington talk and responsible editorials. With defense spending on the upswing, the breather, recession, cyclical adjustment, period of hesitation, or whatever, may prove to be only a lull between periods of rising prices, which may or may not be called inflation...
...onstage, is a whole troupe of possible candidates: New Jersey's Governor Robert Meyner, with a big win under his belt; Texas' Senator Lyndon Johnson, who has yet to extend his vast Senate prestige to the outside world; Missouri's Senator Stuart Symington, ready, in Sputnik's day, to cash in on five years of criticizing Republican defense policy; Adlai Stevenson, believed by many to be eager to try against some Republican besides Ike; Estes Kefauver, still, according to the Gallup poll, the peepul's choice (he leads second-place Jack Kennedy...