Word: consumerization
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More Restraint. The consumer should buy "only what you cannot do without." The housewife "must put off buying whenever she can." The businessman must "hold your prices down." The wage earner must not "ask for wage increases beyond what is needed to meet the rise in the cost of living...
¶For other consumer durables (washing machines, refrigerators, radio & TV sets, etc.), 15% down, 18 months to pay.
Within an hour after President Truman signed the Defense Production Act last week (see NATIONAL AFFAIRS), the Board of Governors of the Federal Reserve System clamped down on consumer credit. But the board thoughtfully gave everyone plenty of time to stock up. Not until Sept. 18 will the ban go...
How much scare buying had the war set off? Last week the Federal Reserve Board provided the first rough measure. In July, it reported, installment purchases of automobiles, refrigerator's and other durable goods had sent consumer credit soaring $660 million, well above the $457 million rise in May...
It was the first time in history that consumer debt had crossed the $20 billion mark, more than double the figure of a decade ago ($9.1 billion). But the rise was not as fearsome as it looked. While the nation's per capita consumer debt had risen from $69...