Word: superboom
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...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...