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...Hell. The primary fact about wartime economics is that war tears the guts out of the national economy-invariably, inevitably, always. Each major war in U.S. history has been accompanied by an irresistible, skyrocketing price inflation, with catastrophic results to the peacetime economy (see chart, p. 18). A corollary, with serious implications to the U.S. today, is that to increase actual over-all production is difficult during a war, since all of the production increase tends to go into the terrible luxury of armament, while civilian consumption drops...

Author: /time Magazine | Title: ECONOMIC FRONT: All Out | 5/12/1941 | See Source »

...relation to production, U.S. common stocks last week hit the lowest point since World War I. Although industry has jumped output nearly 30% since last spring, stock prices have marched the other way, are now 22% under a year ago (see chart...

Author: /time Magazine | Title: WALL STREET: State of the Market | 5/5/1941 | See Source »

...chart below shows how British shipping losses have piled up since the beginning of the war (not counting the shipping losses of Britain's allies; including them, the total through the end of March was 5,300,000 tons). What this rate of losses means is best explained by the tally of what shipping Britain...

Author: /time Magazine | Title: World War: BATTLE OF THE ATLANTIC: Britannia Rules the Waves | 4/28/1941 | See Source »

...Norway-altogether a blockade front of only 300 sea miles. Before the war ended, this entire front was covered by a mine barrage. This time the Germans took Norway, and France fell. From Narvik to Bayonne, 2,300 sea miles, the Germans had their choice of ports. The chart shows how sinkings spurted after the Germans took over Norwegian and French bases...

Author: /time Magazine | Title: World War: BATTLE OF THE ATLANTIC: Britannia Rules the Waves | 4/28/1941 | See Source »

Beating the U-Blitz. Around a huge chart-spread table in the Merchant Ship Plotting Room of the grey old Admiralty off London's Trafalgar Square, a number of officers and clerks bustle every morning, plucking out and sticking in little colored pins. Each pin represents a ship; its color designates whether it is in convoy or independent, whether inbound or outbound...

Author: /time Magazine | Title: World War: BATTLE OF THE ATLANTIC: Britannia Rules the Waves | 4/28/1941 | See Source »

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