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From International Socialist Review, Vol.19 No.3, Summer 1958, p.66.
Transcription & mark-up by Einde O’Callaghan for ETOL.
Sylvia Porter, “distinguished for her remarkable ability to explain complex economic facts and trends in relation to the household,” offers a number of useful suggestions in the June 2 Life for anyone interested in doing something about the recession.
These include buying a farm near a city, investing in some stocks, setting up a “nest egg in dollars in the bank,” bargain-hunting for “autos, appliances, house furnishings and the like,” and buying or building a home.
The most effective do-it-yourself project of all, however, is to borrow money.
“I put this one first because there is absolutely no doubt that this is the borrower’s era. Since the Federal Reserve Board abandoned its tight money policy in mid-November 1957, sensational changes have occurred in the level of borrowing rates and in America’s money markets – all in favor of the borrower of cash. After reaching the highest marks in more than a quarter-century last fall, interest rates have gone into one of the most rapid slides on record. After a painfully prolonged cycle of money scarcity, ample funds are once again available.
“Thus, if you – a businessman, home builder, home buyer, individual consumer – expect to need or want money for important projects in this period, don’t miss your opportunity.”
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Last updated on: 29 April 2009