Word: consumerization
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Beneath the surface of such miscellaneous increases at consumer outlets there were more basic disturbances: price rises in both coal and steel, and an increase in the price of General Motors automobiles (see BUSINESS).
Another merchant of gloom was Wall Street Analyst John H. Lewis,* a historical parallelist, who had made his reputation in July 1946 by announcing a bear market just as the market started down. Lewis, not willing to let go of his bear's tail, last week insisted that the...
Backed by a powerful domestic sugar-growers' lobby, the Sugar Act of 1948 was quietly ushered through Congress; until the final stages, it hardly drew a fly. But last week, just a few days before the House-approved bill was sent to the Senate,* an angry buzz was heard...
Whether all this meant that the U.S. would not get the drop in food and clothing prices which had been expected in the fall, there was some debate. Typical was the argument over meat. The Department of Agriculture feared that corn would be at least 200,000,000 bu. too...
The danger was that price rises would not stop there. A spokesman for Ben Fairless' U.S. Steel, the bellwether of all U.S. industry, argued that the higher costs could be absorbed between mine and consumer, that assured production was more important now than a slight price rise, that anything...