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When there was talk of a sugar shortage, housewives who had never in their lives bought more than ten pounds of sugar at once tried to get stocks of one hundred or two hundred pounds, and while they were doing this, speculators were buying sugar to store in warehouses. Nearly all our war shortages were caused by speculation or buying ahead of need.
"It is my belief that over ninety per cent of the sounds we know and hear are injurious, lowering, disquieting and scattering to all higher thought, to intuition and all that is fine and of the spirit. There is not one human voice in a thousand that is of a quieting influence and friendly to higher aspirations. The voice is a filler, in lieu of shortages of intellect and intuition.
Every report ought to tell whether the man is a smart Aleck or not; if he is mean about returning goods; if he makes unfair claims; if he is a chronic reporter of shortages; if he allows bills to run long past due and then refuses to pay interest, or exchange on drafts; all these points ought to be covered." "Are you much bothered by such men?"
As long as I had nothing but two hardtacks, which was the allowance to each man on the morning after the San Juan fight, no one could complain; but if I had had any private little luxuries the men would very naturally have realized keenly their own shortages.
To judge by the records carved on wall and house, high floods are no very uncommon occurrence the highest I noticed was in 1685, while the last one of importance was credited to 1892. We were much surprised at the well-fed appearance of the population, both old and young, for we had heard so much of food shortages, and the Germans when they surrendered had laid such stress upon it.
These extraordinary demands and shortages may lead to a speculative boom, especially in the price of securities, real estate, and inventories. Therefore, our chief worry still is inflation. While we control this inflationary pressure we must look forward to the time when this extraordinary demand will subside. It will be years before we catch up with the demand for housing.
"Why believe it?" asked Kennedy quietly. "Why believe it?" echoed McCormick. "Stacey has found shortages in his books due to the operation of her departments. The bookkeeper who had charge of the accounts in her department, a man named Douglas, is missing. She must have tried to cover up her operations by fires and juggling the accounts.
There may be a combination of actual shortages and a currency inflation as frequently happens during war. But in any condition of unduly high prices, no matter what the real cause, the people pay the high prices because they think there is going to be a shortage.
As a result exploratory drilling activities have reached an all-time high; Prices for new natural gas are being decontrolled under the Natural Gas Policy Act and natural gas production is now at an all time high; the supply shortages of several years ago have been eliminated; The windfall profits tax on crude oil has been enacted providing $227 billion over ten years for assistance to low-income households, increased mass transit funding, and a massive investment in the production and development of alternative energy sources; The Synthetic Fuels Corporation has been established to help private companies build the facilities to produce energy from synthetic fuels; Solar energy funding has been quadrupled, solar energy tax credits enacted, and a Solar Energy and Energy Conservation Bank has been established; A route has been chosen to bring natural gas from the North Slope of Alaska to the lower 48 states; Coal production and consumption incentives have been increased, and coal production is now at its highest level in history; A gasoline rationing plan has been approved by Congress for possible use in the event of a severe energy supply shortage or interruption; Gasohol production has been dramatically increased, with a program being put in place to produce 500 million gallons of alcohol fuel by the end of this year an amount that could enable gasohol to meet the demand for 10 percent of all unleaded gasoline; New energy conservation incentives have been provided for individuals, businesses and communities and conservation has increased dramatically.
The movement of a technologically oriented community from monopoly capitalism into socialism-communism is without historical precedent and therefore largely experimental. Plans are tentative; there are shortages of materials and particularly of skills based on experience. Costly mistakes are made leading to delay until they can be corrected.
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