Word: consensus
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...action was of more significance than a mere change in trading technicalities. During the war the market, the consensus of guesses on the financial future, went steadily up as 1) speculators bet on more inflation to come and 2)some of the inflationary cash went into the market because there were no goods for it to buy. The FRB steadily cut down trading on margin until a year ago, when Chairman Eccles decided that inflation had reached "dangerous proportions." To brake the market, he put trading on a cash basis. Now, Marriner Eccles was finally recognizing what the collapse...
...celebrate the centennial of Morton's and Warren's historic operation. After reverent visits to the famed Ether Dome, now a medical shrine, the scientists settled down, in a huge tent pitched outside the hospital, to a three-days' appraisal of the ether century. The consensus, as summed up by Dr. Henry Knowles Beecher, Massachusetts General's anesthetist in chief: Anesthesia "was perhaps man's greatest and most original discovery. . . . If, at a stroke, the world's poverty were to be wiped out, this would hardly be greater than the fact of clinical anesthesia...
...general consensus of date-takers among those guardians of antiquity seems to be that, "Girls love it." One dour model T man was heard to remark traitorously, however, "The engine makes so much noise, a woman's hearse before she gets home...
...Washington the consensus was that the U.S. is preoccupied with developments in Paris, in eastern Europe, and with its domestic troubles (see NATIONAL AFFAIRS). The public was concerned about Russian aims but did not yet clearly understand their connection with events in China. The Cabinet was reported to be influenced by Commerce Secretary Henry A. Wallace's vigorous dislike of the Kuomintang and by the unwillingness of many members to make a clear-cut decision on China that would lead to a loud public argument. It was again proposed that President Truman simply reaffirm his declaration of last December...
Trouble in Stocks. Nor was the stockmarket, the consensus of guesses on the business future, reassuring. For the second consecutive week it cracked badly. The Dow-Jones index of industrial stock prices fell 5.95 points in one day, the sharpest break since May 1940. By week's end it was down 8.56 points to 189.19. The decline was as steep as the one which signaled the collapse of the last big bull market in 1937 (see chart). (Some Gloomy Guses observed that the 1937 recession was also preceded by piling up of inventories...