Word: stops
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Dates: during 1950-1959
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From this Blough concluded: "No one company, no one industry, no one union can alone stop the march of inflation. Neither the steel industry or any other industry ever sets the wage pattern in America, for the postwar wage pattern has been a never-ending spiral in which each industry, in its turn, is called on to pay a little more than the preceding industry did, and the next industry must then pay a little more than that...
...Steel in May 1948 tried to fight inflation by refusing a wage increase and instead cut steel prices by $1.25 a ton, the cost-of-living index spurted two percentage points during the following three months. After three months U.S. Steel realized "we might as well have tried to stop an express train with a peashooter. So we had to rescind our price action, increase the pay of our workers and try to catch up with the [price] parade we had fallen so far behind." Perversely, the cost of living then declined...
...junior partner at the age of 25, but he had speculated so wildly that he had made no money of his own in the market and had lost $8,000 of his father's money. From these misadventures, Baruch learned to keep a cash reserve and stop overextending himself on the 10% and 20% margins of that...
...Government help in the long run is an answer. It's phony, phony as hell." A Utah farmer looks at it the same way: "You can't buy a solution to the farm problem by spending more and more money. So why don't they stop trying, before the city people rise up in arms?" Says Indiana Farm Editor (Indianapolis News') Frank Salzarulo: "It's time to quit being average or quit farming. Most farmers are willing to junk the program completely...
Over & Out. In Milwaukee, after police watched George Stein, 79, drive down the wrong side of the street, make an illegal left turn and pass eight stop signs on a five-block trip, he was fined $50 and lost his license despite his plea that he had trouble walking, hearing and seeing and only drove once a month-to visit his doctor...