National Affairs: The Comet's Tail

The fate of the world most assuredly depended on the U.S. economy. That freewheeling, capitalist machine whizzed along raucously. But even the most inexpert mechanic could detect portentous coughs and burps. Was the machine overheating? Last week the machine's most sensitive gauge—prices—continued to creep up the dial.

Prices terrified the Administration, which urged consumers to curtail their buying. Prices chilled some Republicans, who feared for their political necks. Prices had the average housewife mumbling like a woman in a bad dream.

The Happy Farmer. The dream was real. And the prices of food were...

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