SEPTEMBER 20, 1949

Full News Archive

• Headline: Owen D. Young Backs Dulles in Senate Race. Impact: If Dulles had lost that election, perhaps the U.S. would have opted for a tepid cup of chamomile tea instead of the hot cup of interventionism. Imagine a world where we traded our military bases for yoga retreats!. Fact: Owen D. Young was a prominent figure in the early 20th century, but I'm sure his support didn’t come with a side of 'Dulles for President' bumper stickers..
• Headline: Senate Debates Arms Aid Amid Soviet Threat. Impact: Senator Tydings' warning about Soviet might led to decades of paranoia that made every shadow in a trench coat seem suspicious. Thanks to him, we now have a finely honed instinct to look for spies in the grocery store.. Fact: The term 'Cold War' was coined not long after this debate, proving that fear makes for great marketing!.
• Headline: ' OPTIMIST' VISHINSKY HERE TO ATTEND U.N.; Russian and Other Foreign Ministers Arrive for Assembly Session Opening Today AMONG ARRIVALS ON THE QUEEN ELIZABETH AND BY PLANE FOR U. N. SESSION VISHINSKY ARRIVES, 'OPTIMISTIC' ON U. N.. Impact: Vishinsky's optimism was so contagious that it may have inspired a generation of diplomats to treat international relations like a game of poker—bluffing their way through negotiations.. Fact: Vishinsky was famous for his enthusiastic speeches. One time, he was so optimistic he made even the pessimists believe in world peace!.
• Headline: BRITON SEES A GAIN IN TOURIST DOLLARS; Sir Harold Boulton Says Cut Prices Will Attract More American Visitors. Impact: Sir Harold's vision of economic prosperity through cheap prices turned Britain into a tourist destination. Who knew that discount prices could spark a cultural renaissance and a love for fish and chips?. Fact: The British public probably rejoiced at the thought of more Americans visiting, not realizing they'd have to deal with more loud tourists who think 'cheerio' is a universal greeting..
• Headline: Devaluation Lifts Burden of Doubt From Western European Economy; Tension Broken by Realistic Adjustments -- Business Calculations Now Possibie -- 'Cheap' U. S. Dollar Thing of Past. Impact: This devaluation was like that first domino in a chain reaction that led to a century of economic adjustments and the birth of 'financial jargon' that only Wall Street insiders understand.. Fact: The term 'cheap dollar' became a buzzword that spawned entire industries of financial advisors who are just as confused as you are..
• Headline: DUTCH DEVALUING MAY HURT BENELUX; Some Amsterdam Circles See Economic Union on Rocks -- Guilder Rate to Be Fixed. Impact: Devaluing the guilder may have sent ripples through Benelux, but it also set the stage for future economic unions. It’s like a bad breakup that leads to everyone realizing they should just form one big happy family.. Fact: Benelux is a portmanteau of Belgium, Netherlands, and Luxembourg. It's like the original 'We Are The World' but with fewer celebrities and more economic discussions..
• Headline: Pakistan Cabinet Convenes. Impact: The Pakistani Cabinet's response to devaluation paved the way for a series of economic decisions that would later be referenced in 'How Not to Handle a Currency Crisis 101.'. Fact: The only thing more complicated than currency devaluation is trying to explain it to someone who thinks 'inflation' is just a fancy way of saying a birthday balloon is too full..
• Headline: BROKERS IN LONDON ARE BUSY OUTSIDE; Gold-Mining, Oil and Industrial Shares Boom in Street as Exchange Stays Closed. Impact: The stock market's frenzy over gold-mining shares was the beginning of a long-standing tradition of people buying into trends without actually understanding what they’re investing in—like cryptocurrency in the 21st century.. Fact: When the exchange closed, brokers outside were like kids at a candy store—too bad the candy was actually gold and the store was on lockdown!.