Show wai TOI it W im M in reds see nation s economy y gravitating toward disaster by new analyst anil and commentator washington there ore lire a good many ways to judge the moods of official washington sometimes you can assay 31 them the moment you read the latest statement of the bureau of labor statistics sometimes you can interpret them tham in 11 44 terms of the number of press and radio indio conferences that are NOT cancelled or the number of presidential or cabinet fishing trips that are arc scheduled sometimes you can read the story in the congressional record or the gallup poll but in recent times one of the best barometers of washington emotions somo some of my deep dithers tell me Is the facial andor oral expressions of the professional communists who inhabit the carefree district of columbia to help you understand tho the above abodes somewhat un understandable statement let roe me re fresh your memory 0 r y concerning the K X r a m I 1 ins M mp most s t cherished desire that dearest wish as you know li Is a great big all out replica of tho the depression YI 1 pi of IND 1929 i for tho the united states shies lets stop step fr a IM moment into the I 1 t h sanctum sancto rum of the so baukhage no 1 boy 41 A josef ich J alias alia s marshal stalin the tho following Is an excerpt from tho the official transcript of a conver I 1 ration between harold of minnesota sota and josef stalin of geor gli gla glauser US USSR arl not georgia USA j Stas lens our oar problem now Is r V lo 10 00 sc 0 it that wo we J do not have a de pres slon an economic dislo 0 stalin do you expect a crisis Stas a asen seni I 1 do not with wise alse yr m 1 i wo vc can s i avoid a crisis r i i i stalin 1 do AmeT american Ican indus triem tried have a hobt loi of or i ders Is that true ruoc and that american i factories cant keep pace with them find and thit that all factories are running pc per r c ent cent Is that true stassen Y a 0 s 81 substantially but they are arc largely domestic orders ordera but that Is tho ilia most important maga iniga kills analysts and tho the american press carry open reports to the ilia ef cf feet that an economic crisis colsh will rill break out ut T stassen Stass tho the problem Is 0 ono of stabilizing with ual having im an eco dico komlo crisis but what aboud about business men will they bo be prepared to bo be regulated and restrained St assent NO some will have objections 1 i fit fitalino alint yes they do that Is a verbatim record with omissions which do not affect the context they reveal keen interest in our domestic economy econom and any prospective depression in that economy the conversation took place in the kremlin on april 0 ot of his year A friend of mine aln a financial expert met a communist acquaintance I who wi was bubbling over with joy tho the reason for his gayety gaiety the e fact that he fores foresaw aw a real depression tor for the united states later the financial man again met thi the communist informed him he was wan sorry to hurt his feelings but that there his was wag go going n to be only a mild recession which serve to check the boom no bust would follow that was wag the opinion of most of the expert a industry and laborati lab that time the whole country despite the tact fact that bust busl ness was booming seemed to po be awe aware of tho the dangers of inflation furthers furthermore Fur therm bore people were in the mood to check extravagances for example the newburyport and other price cutting experiments it appeared there would bo be a slight recession that it would relieve the labor tension and encourage more on tho the part of work ers and management also atwould it would adjust inventories bring down real ical estate processo PH cesso that PC people OPIO coula buy homes aj reduce tho the cost of living and ime In general take the wind out of the sails of a boom that hat might bo be followed by a bust buit that was in april well along about the middle of july the communist ran into the financial expert again again the communist was smiling well lie leered happily wheres your mild recession that was waa going to take the he wind out of tho sails of boom mid and bust I 1 ile iio sniffed tho the breeze blowing oil tho the potomac a couple of times and added ati as it if lie ho had i tho scent of attar altar of roses I 1 smells a lot like 1029 1929 to me the communist went on obal ou bously sly enjoying himself john lewis got the biggest wage settlement in his history you say wago wage iner increases cases were mere inflationary what are the other labor leaders going to do I 1 hear something about nn an increase in tho the price of steel as well as coal and what about tho the other sade si demore more loose change in peo peoples liles pockets congress talked about letting the boys have cash for their terminal leave bonds that do much to pull down prices and releasing credit controls on installment buying and the railroads saying they cant pay their coal bills without a freight rate increase congress tried twice to c cut u it taxes too right ight I 1 where it bould do high prices the most good where ho he asked again wheres wh eros this recession ond and oil all the serious thought about checking a boom with that tho communist walked off chuckling in his beard my fl financial expert admitted he answer him its this his way he said to me afterward people feel about inflation the way they felt about sin everybody Is against they wont want to get theirs |