STATE OF BUSINESS: Sliders & Saucerites

Economists know that business is slipping, but they are having trouble finding a way to describe 1) what is going on, and 2) how bad it will get. Last week, at a credit conference of the American Bankers Association in Chicago, Economist Walter E. Hoadley of the Armstrong Cork Co. produced a list of the newest expressions used by the most contemporary schools of economic thought. Samples:

¶Sliders—Those who expect a fairly steady downward movement in the economy for all of 1954.

¶Saucerites—Forecasters who think business will drop in the first half, then pick up in the last half...

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