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...made in the bull market since 1932. Six months later, the Dow Theory gave a definite signal that the U. S. was in a bear market (ebb tide), had been in it since March. Thus, because it was succeeded by a wave with a lower crest and a lower trough, the March wave was proved to have been the high mark of the 1932-37 incoming tide. When September's definite signal was given, the Dow-Jones industrial average was at 165; speculators who then sold stocks have avoided a loss of more than 50 points (industrials ended last...

Author: /time Magazine | Title: Business & Finance: Tides, Waves, Ripples | 6/20/1938 | See Source »

Matthew H. McCloskey Jr. did not rise from boyhood poverty in West Virginia to wealth and power in Pennsylvania by wasting dollars or handshakes on nonentities. He bows low to the right people, bids low on the right jobs. His perspicacity in switching from the Republican to the Democratic trough in 1932 also has contributed materially to his emergence as Pennsylvania's Public Contractor No. 1. To Pennsylvanians born & bred in gutter politics, it therefore seems perfectly natural that blue-eyed Little Matt should draw first mud in this State's muddled Democratic primary campaign...

Author: /time Magazine | Title: PENNSYLVANIA: Sugar Boy | 5/2/1938 | See Source »

...that we are out of the trough of the Depression, the time has come to set our house in order. The administrative management of the Government needs overhauling...

Author: /time Magazine | Title: National Affairs: Reorganization Renaissance | 3/28/1938 | See Source »

...much as he lost in 1937. Crowded off the Congressional stage by the fight to enlarge the Supreme Court last spring, the plan to reorganize the executive branch was crowded off again this winter by more practical concerns. By last week, with the country apparently back in the trough of at least a Recession, the Reorganization Plan had reemerged. Because it gave the President's enemies in Congress a fine excuse- ill-supported by the bill itself-to argue in effect that he was trying to make himself a dictator, it produced the major political fireworks of a highly...

Author: /time Magazine | Title: National Affairs: Reorganization Renaissance | 3/28/1938 | See Source »

...profits, meet the needs of the weak and poor! Instead, the Washington Administration has waged so ruthless a war on private enterprise that the United States, with none of the perils and burdens of Europe upon it, is actually at the present moment leading the world back into the trough of depression...

Author: /time Magazine | Title: Foreign News: Crisis of Confidence | 12/27/1937 | See Source »

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