Word: gap
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...zero hour, Russian guns and bombers blasted German defenses. Into the gap poured Russian infantrymen and tanks, until then hidden in gullies and ravines. By the end of the second day, the forces of bald, hard-driving General Ivan Konev had opened a breach 28 miles wide, 16 miles deep, soon pushed the wedge southward at a fast pace. By this week, his army had driven some 70 miles into the bulge, was pounding on the gates of Krivoi Rog, an important rail and iron center. Outflanked, the German troops in Dniepropetrovsk abandoned the great city, with its wrecked power...
...clearing statement about postwar inflation. Harvard's distinguished pro-business economist, Sumner Slichter, in a special supplement to the autumn Harvard Business Review, explored the probabilities of a dangerous inflation after the war. He concluded: 1) the danger of the now-famed, and admittedly enormous, '"inflationary gap" has been grossly exaggerated; 2) the danger of an all-out postwar inflation is lessened by the fact that price control today has been "fair" rather than "perfect"; 3) the admittedly huge liquid funds in consumers' and corporations' pockets will give U.S. industry an unheard-of five...
Sumner Slichter's study, liberally strewn with tables, footnotes and no-one-knows-for-sure warnings, was mainly an attempt to differentiate between "hot," "warm" and "cold" savings: i.e., to isolate that portion of the total gap between wartime income and expenditures that can really be expected to inflate prices. His cheerful conclusions came from the fact that his computations showed much larger "warm" and "cold"' savings (war bonds, reduction of short-term debt, etc.) than "hot" ones (cash and demand deposits)* He believes that the average U.S. citizen is going to want to hang...
...premise of sound and conventional budgeting, Sir Kingsley Wood was the Chancellor in office when this country crossed into the land of promise where the nation's real resources and not its money became the basis of public economics. . . ." Mourned Winston Churchill: "We shall not easily fill the gap...
...required that the gap be swiftly filled. Prime Minister seized the chance to reinvigorate his whole Cabinet...