How Much Prosperity?

How long will the postwar boom last? The rosy estimates of three to five years have been based on one solid economic fact. During the war, U.S. consumers piled up $90 billion in savings, now hold $130 billion. This huge hoard, according to the economic witch-doctors, would be poured out-to fuel the boom. But last week, in a gloomy and significant report, the conservative U.S. Bureau of Agricultural Economics said "Not so."

In the June Federal Reserve Bulletin, BAE reported what it had found in a representative survey of 3,000 spending units (all the members of a family living together,...

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