Hope and Worry for Reaganomics

Interest rates tumble, but the recession subbornly lingers on

Despite the late-summer explosion in the stock market, American business is in a somber and cautious mood as it approaches Labor Day.

Then factory hands and clerks stream back from the beaches and backyards to their lathes and typewriters, and salesmen hit the road again, knowing that their customers will once more be at their desks rather than on the golf links or tennis courts. Everyone, from the executive suite (indeed, the Oval Office) to the grocery checkout, tries to read the early signs to divine...

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