Word: squealing
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Dates: during 1950-1959
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Slowly the brakes of the U.S. Government's standard model deflationary program (for export only) began to grind and squeal. By April, skyrocketing retail prices began to descend. Currency in circulation dropped from a 75 billion won high in January to a May 19 figure of 57.7 billion. Government departments and government-run factories trimmed down to economy size to fit the new budget...