Word: steel
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Dates: during 1960-1969
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...experimental nuclear rocket engine built at Los Alamos Scientific Laboratory and used only for brief tests. It was set on an expendable railroad car on Nevada's desolate Jackass Flats and surrounded with a motley array of test objects-nuclear fuels, explosives, radiation detectors, air samplers. A stout steel net was hung to catch any flying debris, and the scientists retired to the control building two miles from the condemned power plant to wait for a northeast wind that would carry any radioactive fallout away from Nevada's inhabited areas...
...wounded surgeon plies the steel That questions the distempered part; Beneath the bleeding hands we feel The sharp compassion of the healer...
President Johnson has also handed the Council the task of preparing what will surely be one of the year's most controversial studies: a report on steel price increases and their effect on inflation. Aware that the report, no matter what its conclusions, is bound to displease either business or labor, the Chief Executive shrewdly handed it to the CEA rather than have it prepared by his personal staff. He will thus be able to keep himself somewhat apart from its conclusions, using them as he sees...
...Council is well qualified to report on the steel industry, where recent price increases have spread until they cover 16% of total shipments. In Eckstein it has one of the nation's top analysts of the industry; it was his study for Congress in 1959 that produced the startling estimate that the 110% hike in steel prices between 1947 and 1957 accounted for roughly 40% of the entire rise in U.S. industrial prices in that decade. The Council, which makes a specialty of keeping a close watch on steel, has already guided Johnson in his repeated warnings against steel...
Defying Gravity. As long as housing fails to gain, this year should be an easy one in which to borrow mortgage and other long-term money. Though inventory buying in fear of a May 1 steel strike is increasing demand for commercial and other under-a-year loans, most bankers see little chance that short-term rates will rise any time soon. But a coming squeeze on bank profits could easily lead bankers to tighten up later in the year. After all, no one can indefinitely defy the economic laws of gravity by paying more for money and lending...