DOES THIS MEAN THAT SLUMP HAS COME?

The Newsletter, vol. 2 no. 45, 22 March 1958 · scan page 6

Read from the scan by machine and not corrected: headlines and words can be misread, and a caption or advert can run into the text. For anything you quote, read the scan.

Clearly the USA is experiencing the sharpest downturn since the war. As yet this is unequally spread over industries and areas. Once it begins to affect the general level of consumption new and wider sections of the economy will be drawn in.

In that case government. spending may set a bottom” ” to the decline—but it seems probable that it will have to go further and make bigger inroads into the sphere of private investment decision making than anything yet envisaged by the Eisenhower Administration.

We in Britain are only beginning to feel the first cool breezes of the blizzard in prospect. If the American really. unseasonable icy blast Potriking the British - economy keeps on its downward path there should be a economy by the summer and autumn. ~—--We-should, however, -be trying-to-determine the-nature.—-. -of the next blizzard, not assume that it will repeat all the features of the last.

airily that ‘the fact that. it is someone’s home has nothing to do with it. It sheds an emotional aura around the issue but is completely irrelevant’.

‘Veritas’, of Great Barr, writes: ‘Misery is: being endured by thousands who are being forced to. pay a-new rental: they cannot possibly afford; or to buy at an extortionate price which will prove a millstone round their necks for the rest of their lives.’

And an Alum Rock tenant, who has been given the choice of quitting his house or buying it for £800, writes of ‘the hopeless despair when I catch that hunted look in: my wife’s eyes—knowing that. I cannot say anything to reassure her. . . All while we listen to the tedious platitudes on the radio of the Minister of Housing’.

Md, PARIS POLICE CRIED RIGHT-WING SLOGANS,