Word: consumerization
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For Consumers. In consumer durables, there was a decrease in production of autos (239,000 v. 241,000 in August), trucks (down 13%), gas ranges (10%), electric ranges (7%), and domestic radios (12%). There were increases in the number of sewing machines (up 21% over August), vacuum cleaners (12%), refrigerators...
James K. ("the Commodore") Vardaman Jr., freshman member of the Federal Reserve Board of Governors, likes to tell businessmen what they like to hear. Last week at Virginia Beach, Jake Vardaman gave conventioning Morris Plan bankers a cheerful little earful. Said he: "I hope we shall soon be freed of...
No pronouncement,by a governor of the Federal Reserve, which administers Regulation W under Executive Order, could have been more pleasing to the Morris Planners, whose prime business is consumer loans. But how much weight did affable Jake Vardaman pull on the board?
Thinking it all over, the long "protected" consumer began to realize that if his government was not engaged in a rout, it was certainly conducting one of the fastest retreats on record. Maybe he had better hold off and wait for supply-&-demand to balance a few things.
Latin Energy. For well-heeled foreigners, Italy is the most comfortable of all the European countries that took part in the war. There is hardly a pretense of rationing. The whole country is on the black market. For the rich there are unlimited quantities of consumer goods-women's...