The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1949-03-03

These are the days in which econ
omists and pretenders to the title
are making forecasts and guesses
as to what's ahead-'levelling- off,
recession, depression? You can
name it and you can have it.
So here's the fling of this column
about the domestic future.
Depression is not in the cards in
the foreseeable future.
Nobody knows exactly what is
meant by the term recession, SO
it had better be abandoned. Equal
| ly, nobody knows exactly what is
meant by the term "levelling-off" ',
so that can go into the discard also.
Recession should mean to go
backward-but to what point? To
level off would normally mean to
coast on the present grade. That
could be done if the economic world
were static world-one without
movement. But it isn't and by its
nature it cannot be one.
Where does that leave us? Well,
| it ought to mean having look
without getting bound up to a set
group of words. Let's try it.
J. i i
We are not going to have "a de-
preston for several reasons. One
reason is that the Marshall Plan
will do a lot to prevent depres-
sion. Another reason is the fact
that the government now has vast
powers to do things which can
stimulate, modify or retard the
movement of our economy and in
almost any given section or dir
ection.
We might as well add to those
facts the further fact that war
savings bonds are selling in larger
amounts and that such institutions
as building and loan associations
are prospering, with plenty of
money going in as savings.
New industries, resulting from
invention and discovery in the
world of chemistry will continue
TO absorb workers-and money.
The atomic energy program alone
is of such hugh proportions that it
will be a mighty factor in our ma
tional economy. And it isn't alone,
by any means.
Now what is happening is i'm
portant and not too complicated.
In many fields manufacture is
catching up to demand. The per-
fectly natural result is that buyers
are more careful. They shop
around. They look for quality and
they look for price. The runaway
sellers market is gone in many
major lines.
But that isn't depression. Nor is
it even what some call recession.
Common sense among buyers is
getting a chance to get to work
and that's what it is doing.
Two years ago people who need
ed furniture had to buy whatever
junk was available. Today they can
look around and they do look
around. Further, people with a.
little money to spend have got over
the idea that they must spend this
week all that they earned last
week. So, they buy carefully and
they save some, too.
That's healthy. That's not de-
or fear Of depression. 1t
is, in way, sign of confidence
that the future is going to be
worth saving for.
Of course some lines are going
to have a bit of hard shedding. !
know city in which far too many
small store buildings have been
built.
People with a few dollars, who
ion't know about the change in
,uying pace, have been induced to
open small establishments. Some
IF them will fail and some of the
rents will have to come down.
Our economy, again, is not static.
t doesn't ride an even tide and it
never will, unless it becomes a
;tate controlled economy-and then
matters will be Immediately much
worse.
But while the Marshall Plan
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