Show i tl Its It's b bi bi i BABSON'S AUTHENTIC STATEMENT ST A TEl Rear W Bab Bodes Special to THE EXPRESS I BABSON DISCUSSES I WHAT 1963 LACKS BABSON PARK MASS MASS- MASSI I have been criticized for fore fore- forecasting casting a moderate decline in 1963 I admit that most of the forecasts by others have been for good business at least as good and probably much better beller in 1963 I sIncerely hope that they are right and andI I am wrong My wise father many times said to me Roger it is isI wrong for you to mislead oth oth- othera I ers era who really have confidence I dence in you Tell them that I you do n not ot know if you wish but when you make a state state- statement ment be sure you have the reasons Hence this week I will give you two reasons reas- reas reasons ons for my doubts about 1963 1 Unemployment is sure to increase during 1963 those employed who statistics show should be more mOle numer numer- numerous ous in 1963 will not get over over- overtime time work This means they will not have so much take home pay The government figures for employment and unemployment are a r e very tricky Actually the govern govern- government ment should make malte only one computation in this whole namely area the total take take- home pay of aU all 2 An important second reason is that employers do donot not know how President Ken Ken- Kennedy nedy really feels toward the nations nation's business leaders We know he is surrounded by a group of very liberal advisers mostly college professors who have been dependent on endowed funds for their sala salaries ries Very few of them have ever been obliged to earn a living as most readers have Furthermore the President himSelf is a very rich man en en- en enjoying trust funds set up by his father Joseph P Ken Ken- Kennedy Kennedy nedy who is said to be worth over In addition the PresIdent knows that business bus bus- busIness Iness leaders are in the great minority In terms of prospective prospective tive votes not In business for themselves reo re- represent present the big majority Importance o of Larger Exports I The government is constant constant- constantly ly urging manufacturers to in- in install Install stall new machinery and increase in- in increase crease production With the present excess of commodities this means we must develop fore foreign trade To do this efficiently our manufacturers should be encouraged to com com- combIne coine bIne to form trade associations They now do not dare to do this for fear that the Presidents President's brother Robert who is Attorney General will prosecute them under the Anti Trust laws These outdated ed d laws should either be reo re- relaxed to meet present foreign foreign- trade needs or else be amend amend- amended ed so that they will apply also alsoto alsoto to labor unions Europe s Common Mar Mar- Market the ket not only encourages manufacturers of one Industry to work together but also those of several different countries Labor unions are encouraged but are treated as these other associations are arc treated The Common Market Iwas created to encourage co cooperation operation in direct contrast to what our Administration at I Washington is now doing Readers should note what Governor Romney of Michigan gan formerly President of American Motors Rambler Co said in his Inaugural add add- address ress Look at the Record When President Kennedy took office the Jones Dow In In- In Industrial Average was around 6 0 Then it was manIpulated to over after which came the big break of May 28 1962 The market had gone up from around during the Eisenhower Administration With the Presidents President's father Old Joe now putting his money into real estate which is much better wise tax for Trusts most businessmen feel that both the stock market and general business will de de- de decline cline in 1963 Without doubt the Cuban situation helped the President last year I believe he is sure to be a shrewd enough politician cian to keep Cuba in the news until after the election in 1964 This along with a tax cut which Congress will pro pro- probably probably bably pass in 1963 to take ef ef- ef feet January 1 1964 should elect re-elect President Kennedy in November 1964 But this is no time to talk about 1964 My interest today toda is in dis- dis discussing discussing cussing busIness in 1963 and my reasons for forecasting a decline To repeat The real reason is the attitude of the Presidents President's brother Robert who should interpret the Anti Trust laws so they can be used operatively co-operatively to develop for for- foreign eign trade abroad This is what 1963 lacks Business leaders are scared |