Show t Standard-Examin- August 12 Thursday er 1982 1 1A O By PETER COSTA Senior Editor UPI NEW YORK (UPI) — During the Great Depression of the 1930s when you fell out of work you bounced off bedrock “social safety There was no so-call- ed net” to break your fall No weekly medical paychecks foodstamps pay- ments or childcare allowances to sustain you and your family — just seemingly endless despair The decade-lon- g Depression the worst economic period industrialized America has ever suffered affected more workers more severely than any other period in United States history More than 5000 banks closed nationwide and more than 12 million people — or nearly 25 percent of all workers — were unemployed Monthly wages dropped to 60 percent of what they were in 1929 and dividends dropped to 57 percent Worldwide the jobless figures soared to more than 30 million unemployed and this dollars” according to Palmer figure did not include those who worked only a few hours a week or the uncounted masses who had no jobs in Asia and Africa ' Investments plummeted An investor who had placed $1000 in General Motors stock in 1929 had lost more than 90 percent of his investment by 1932 Industry output declined to 50 percent its volume in 1929 steel plants operated at 12 percent capacity and farmers could not sell their goods despite low prices for their food the low point of the Depression farm purchasing power was almost half that of 1929 “The world price of wheat fell incredibly In 1930 a bushel of wheat in terms of gold sold for the lowest price in 400 RR Palmer wrote years” historian “Between 1929 and 1932 world production is estimated to have declined by 38 percent and the world’s international In the US the trade fell by national income fell from 85 to 37 billion In July 1932 two-thir- That was the Great Depression How does it compare with the Recession of 1982 which some experts say may be over? Economists surveyed by UPI generally agree ' a depression is a period of low economic activity marked by mass unemployment “deflation” a decreasing use of resources and a low level of investment GL Bach professor of finance at Stanford University and a consultant to the Federal Reserve Board sees these differences between a recession and a true depression: “The present situation is very much more mild The unemployment rate during the Great Depression was 25 percent — 25 percent of all people did not have jobs Now it’s only ds 9-- 10 percent That’s an enormous difference” d The output level fell during the Depression he said and now it’s been even the last year or two one-thir- another great depression “We could never have a depression “A recession is a slowdown in growth but the economy is not sent back very far” out the collapse of the monetary system” Bach said “Banks were all closed in the Great Depression There was a collapse of the financial arrangement It’s not likely that will happen again Yet this factor is always essential to have a major depres- Bach said “During the Depression prices fell farther and faster than now “In that depression the government did very little to help Now the government is offering a lot of help to avoid hardships” What would it take for the present recessionary economy to become an official depression? Economists say more unemployment less industrial output and a general collapse of the entire monetary sys- sion” Bach said in a depression there is a serious decline of production and jobs a downfall in confidence when business at some firms actually stops But it is unlikely he said that government would allow the economic climate to deteriorate as badly as it did five decades ago “In the 1930s the government was not aware of what was going on Also it was not aware of what it should do The philosophy of the government was ‘Let the depression run its course it cleans out inefficient people and is a necessary part of the capitalistic economy’” tem “A lot must happen for the present recession to become a depression” said Robert Hall economist at the Hoover Institute and chairman of the Business Cycle Dating Committee of the National Bureau of Economic Research which maintains a chronology of US recessions and has a role deciding when recession begins and ends An array of economic catastrophes must occur before the world is plunged into semi-offici- al LAYTON OGDEN TS EV VENT BON OGDEN CITY MALL BON LAYTON COME JOIN US AS WE HELP YOU PREPARE FOR THE BIG DAY WE WILL HAVE OUR COMPANY BRIDAL CONSULTANT HILLS MALL AUG 12TH THURS with- ROSEMARY MITCHELL HERE 10-- 8 PM FRIDAY AUG 13 Along with our store Bridal i consultant Azealine Watson COOKING DEMONSTRATIONS TIME: 11 A M -- 3:00 PM CUISINART CAPPUCCINO ELEC FRIDAY AUG FRY PAN ARRANGEMENT VIEWING TIME: 10 A M -- 9:00 PM NORITAKE WATERFORD COURTESY BON FLOWER SHOP LENOX ALL CUISINART DISPLAY TIME: 10 AM-- COURTESY SIVULICH TRAVEL AGENCY PM 9 PHOTO STUDIO DISPLAY COSMETIC MAKEOVERS -- REPRESENTATIVE WITH PHOTO INFORMATION AND SAMPLES 8:00 PM DEE DAVIS AT THE ORGAN PHOTOGRAPHY DISPLAY AM-8:0- TIME: PM 0 -- 2:00 CUISINART TIME: 11:00 8:00 PM WOK 1 :00 3:00 NORITAKE THURS candle I 'INDIVIDUAL WEDDING CONSULTATIONS 2:00 PM LARRY HANSEN PHOTOGRAPHY DISPLAY TIME: 10:00 COSMETIC TIME: AM-5:0- 0 silk flower and a 3 tier First 8 brides to register ARRANGEMENTS at each store will receive respectively: Set of sheets 2 Set of towels 3 Silver snack set & Cheese slicer 4 Set of placemats napkins rings (2 each) 5 Kitchen towel set 6 10" Silverstone saute pan 7 1 pc Cordura luggage wok set 8 5-- Noritake will receive a dinner plate as a gift Brides registering for ASI or Durand crystal will receive a water goblet Brides registering for Intern Oneida stainless will receive teaspoon as a gift Brides registering for Mikasa will receive a gift pin dish Brides registering for Pfaltzgraff will receive a dinner plate as a Gift ON FLOWER DAY-PHOT- O STUDIO DISPLAY INFORMATION AND SAMPLES TRAVEL INFORMATION COURTESY SIVULICH TRAVEL AGENCY TIME: 10 AM-- PM 5 pc BRIDAL CONSULTANT ROSEMARY MITCHELL TIME: PM 3:00 PM-6:0- 0 PM FOR INFORMATION CALL EXT MAKE-OVER- 14TH COURTESY BON FLOWER SHOP ALL 1 Brides registering PM -- a Corham a Lenox basket ARRANGING M ALL DAY- - ADVICE AND SAT AUG 12 13 AND 14 Each reigstered bride will receive FRESH & SILK FLOWER PM-4:0- 0 FRI FREE GIFTS NOON :00-AM-- 12 10:00 A LENOX SATURDAY AUG BON OGDEN CITY MALL & LAYTON HILLS MALL GOWNS AND TUXEDOS BY ACCENT ON YOU TROUSSEAU BY THE BON TIME: WATERFORD PM 0 FASHION SHOW : PM 0 FREE CARNATIONS BUFFET AND 2:00 PM-4:0- REFRESHMENTS SERVED ELECTRIC WOK TIME: PM 0 FOR VIEWING CUISINART ICE CREAM MAKER 1 1 n FILMS AVAILABLE COOKING DEMONSTRATIONS TIME: PM-2:0- AM-Noo- ICE CREAM MAKER SATURDAY AUG 14TH PM-4:0- PM 0 COOKING DEMONSTRATIONS Rosemary Mitchell is the Bon's corporate brides gift service director She will be available for private consolations from 10-- 8 pm Thurs Aug 12th and from 10-- 2 pm on Sat Aug 14th Appointment can be made by calling the Ext 221 China Dept 546-246- 5 TIME: 1:00 PM-3:0- COURTESY OF HERITAGE HOUSE INDIVIDUAL WEDDING CONSULTATIONS TIME: 10 A M PM TIME: 10:00-- 9 LARRY HANSEN TIME: 10 DAY-TRAV- EL INFORMATION SIVULICH TRAVEL AGENCY TIME: 10 A M ADVICE ON FLOWER ALL-DA- Y- FILMS AVAILABLE FOR 13TH 399-418- 1 254 S 10:00 A M 5:00 PM -- BOTH DAYS OGDEN ONLY SIVULICH TRAVEL AGENCY DISPLAY TIME: 10:00 AM-5:0- 0 ENTER OUR FREE DRAWING FOR PENTHOUSE SUITE AT THE NEW OGDEN HILTON PM FILMS AVAILABLE FOR VIEWING TIME: 10:00 A M NORITAKE -- 5:00 WATERFORD 2 NIGHTS FREE ACCOMODATIONS 'jM l LENOX' CUISINART IN LUXURIOUS GRAND PENTHOUSE SUITE FOR THE LUCKY COUPLE WINNING THIS DRAWING l: y ' t- - - 4 4 X ' |