Consumer credit, which in the past has expanded dangerously beyond people’s ability to pay, has reached astronomic heights with an astonishingly low percentage of defaults.
The enormous and unremitting flow of dollars into the market place has returned unexampled profits to industry. The enormous and unremitting flow of “discretionary income” dollars into the market place has returned unexampled profits to industry. Corporations have assiduously strengthened their underpinning, invested hugely in research, laid away cash surpluses, and still distributed the highest dividend totals in history.
The combination of these forces and these events—and of many others, as well—has been faithfully noted by the stock market. Never has industry seemed so glamorous. Not alone to sell foods, drugs, cosmetics, cigarettes, and appliances; radio had—and has—plenty to say about these, too.
Across the country, people with discretionary income are becoming acquainted with the sweet smell of corporate success. The bonds were issued in denominations small enough for people to handle easily.
Leaving The Depression Behind And Moving Into Discretion
It’s the 1960s and Americans have left the Great Depression behind, are seeing their incomes soar, their savings increase and their interest in investing grow.
“Discretionary income,” that pleasant bulge over and beyond the budget for necessities, was at the command of most families.
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