Word: superboom
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...would life in the U.S. be if a mere sampling of the 1969 prognostications had been accurate? The economy would be stable, steadily growing, with perhaps a bit of inflation. A superboom in housing would have occurred: a second home would be as ordinary as a second car. Vertical takeoff planes would be much in use. A safe fast-breeder reactor would be perfected. Space-shuttle flights would be regularly scheduled. Anticancer vaccine would be available at the neighborhood clinic. Ugly transmission lines would all be underground. People would be shopping by two-way cable television. Teaching machines would...
...Nixon slump has had some beneficial side effects. It has curbed the speculative excesses that developed in the inflationary superboom and helped to puncture many of the nation's bloated expectations of future prosperity. It has restored the key element of risk without which the economic system becomes wasteful and unbalanced. During the boom, companies hoarded unneeded workers; employees, knowing they would not be fired, showed up for work late or not at all. Now companies are paring their unproductive workers, and the others, concerned about their jobs, appear on time...
...Recession? Economist Rinfret wants to be taken seriously, and he often is. Part of his record, at least, merits respect. He correctly forecast a business downturn in 1961, a superboom following the 1964 tax cuts, and a great leap in defense spending after the 1966 escalation of the Viet Nam War. He has been right for the past two years in anticipating severe inflation, tight money and record-high interest rates. Many cash-shy corporations, he warned, could not stop borrowing, no matter how costly it became. On the other hand, he failed to foresee that industrial production would decline...
...ratios, the general public's buying spirit got little encouragement from many of last week's economic indicators (see THE NATION). More and more, investors were showing themselves disappointed in the sluggishness of the recovery and no longer hopeful that it will blossom into a boom or superboom. "Best guess at this point," wrote Walston & Co. Market Analyst Anthony Tabell. "is that it will be fairly close to two years before we have the start of another major bull market...
...Dampener. Why was Wall Street indifferent to all this encouragement? Most market analysts attribute part of the investor apathy to disappointment with the economy's failure to achieve the superboom levels so freely predicted last fall; analysts also consider the present drop in stock prices a necessary correction of December's "ridiculous" highs. But despite last week's favorable earnings reports, what concerns the worriers most is the long-term state of corporate profits...