THE ECONOMY: End of the Year?

In the exhilarating hum of high production and few strikes, everyone seemed to have forgotten the ugly word: recession. Last week, they were sharply reminded of it. The Bureau of Agricultural Economics stared into its crystal ball and found it filled with dark clouds. Unless steps are taken to bolster purchasing power, said BAE, the U.S. will probably have a recession toward the end of this year.

When—and if—it comes, wholesale food prices, said BAE, may tumble 15 to 20% below last December's average. At the same time there may be a 20 to 25% drop in farm prices. But...

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