Word: stockmarketeer
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Dates: during 1930-1939
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...Revolution, Provisional President Miguel Cabanellas, later prayed in the Cathedral at the shrine of heroic El Cid, Eleventh Century Savior of Spain. Said Mola: "We do not want Spain split by class hatreds. We will stop exploitation of the workers who today are suffering misery born of discontent and stockmarket manipulation. Spain's national economy was ruined by greed...
...being superior to the normal. Because he needed money for his private schemes, he turned burglar at a tender age, committed his first murder at the age of 9 (self-defense: the policeman had caught him red-handed). He sold many an invention, cleaned up in the stockmarket before he was well into his teens. Unwary adults, engaging him in conversation, wished they had not. John matured so fast and far that before he was adolescent he had outstripped all ordinary human beings...
Meantime the stockmarket has gradually moved up to its old New Deal high made last April. At that time a general reappraisal of the business outlook seemed in order and stock prices subsequently suffered their first serious setback in more than a year (TIME, May 4). Significant to market chartists, nevertheless, is the fact that the recent recovery has not been a strong enough to carry the stock averages through their old tops...
...What concerned the stockmarket most last week was the imminence of a more than seasonal summer slump. Automobile production is bound to taper off as motormakers prepare new models for November showings. Iron Age was pessimistic on steel operations after the July 4 shutdowns, reporting: "Heavy consumer buying from a number of sources is admittedly prompted by fear of labor trouble (see p. 16) as well as by higher third-quarter prices. . . . It cannot be denied that a large proportion of production during June has been borrowed from July and August...
...nomination of Alfred Mossman Landon did not bring forth a boom, anti-Roosevelt Wall Street at least did honors with a respectable pop. The stockmarket managed to put on two successive million-share days before slumping back into the dullness of the past six weeks. Businessmen and brokers were pleased with, if not excited by, the G.O.P. platform. Mr. Landon's talk of gold had no market magic...