Investment: In Foul Weather, A Wild Blue Yonder

Despite some foul economic weather, stock prices are soaring on both sides of the English Channel:

In London, industrials have gone up 20% over the past year, two weeks ago hit an alltime high. All this came in the face of the facts that: for the third successive year, corporate profits are down; dividends have been cut by one-third of the companies reporting so far in 1967; the United Kingdom's economic growth rate lurches along at an annual 2%, and the balance-of-payments problem is far from solved. "There is no economic justification for...

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