Breakthroughs and everyday innovations from the year.
HEADLINES ON June 6, 1951
Full News Archive
- Headline: De Beers Reading Co. Leadership Change. Impact: The retirement of the De Beers president led to a series of events where diamond prices fluctuated wildly, causing a global obsession with engagement rings. This ultimately resulted in people spending ridiculous amounts of money to propose, leading to the invention of the phrase 'diamond or nothing'βwhich, letβs be honest, was pretty much the start of financial misery for many.. Fact: Did you know that the average price of a diamond engagement ring is now equivalent to a down payment on a condo? Who knew love could be so expensive!.
- Headline: More Turks on Way to Korea. Impact: The deployment of Turkish troops to Korea inadvertently sparked a trend in global military alliances, leading to the formation of new international friendships based on the shared experience of being way too far from home.. Fact: Did you know that this military move was also the beginning of many Turkish coffee breaks being held in war zones? Because when in doubt, always have coffee..
- Headline: Defection of Hong Kong To Reds Viewed Unlikely. Impact: The belief that Hong Kong would not fall to communism created a false sense of security that resonated for decades. This led to a series of 'we're fine' decisions that ultimately resulted in a little something called 'the handover'βwhich definitely wasn't awkward at all.. Fact: In hindsight, saying 'this will never happen' is basically the same as saying 'hold my beer' in geopolitical terms..
- Headline: SENATORS OPEN FIRE ON ACHESON'S STORY OF POLICY ON CHINA; 'Deceit' Charged by Brewster --Flanders and Gillette Press Him on Testimony ACCUSATIONS ARE DENIED Secretary Says We Would Ask World Court Rule on Veto of Peiping U.N. Seat Policy Becomes Harder Others Attack Views SENATORS OPEN FIRE ON ACHESON'S STORY "Calculated to Deceive" Heavy Casualties, Says Acheson Reads Text of Proposal Manchuria Called Issue A General War Feared. Impact: The congressional accusations against Acheson led to a fierce back-and-forth that ultimately resulted in a generation of politicians taking their cues from soap operas, where drama is a daily requirement and facts are optional.. Fact: This was the beginning of the American political drama genre, which eventually inspired reality TV. Thank you, Senate!.
- Headline: Pedigreed Stock for Israel. Impact: Israelβs quest for pedigree stock inadvertently led to a global obsession with breeding the βbestβ pets, resulting in the rise of dog shows and an entire industry centered around making your pet feel superior to the neighbor's.. Fact: Did you know thereβs a whole underground market for dog beauty products? Because apparently, even dogs can feel ugly sometimes..
- Headline: HOUSE GROUP TO VISIT EISENHOWER ON AID. Impact: The House group's visit to Eisenhower about economic and military aid turned into an endless cycle of funding debates, eventually leading to the creation of a new political sport: 'How to ask for money without looking desperate.'. Fact: In political circles, asking for aid is basically like trying to get your friends to chip in for pizzaβawkward yet necessary..
- Headline: Moran Linked to Shakedown As 4 Ex-Firemen Go on Trial; Named by Prosecutor as Official Who Got Bulk of $500,000-a-Year Oil Equipment Permit Racket, but He Is Not a Defendant MORAN IDENTIFIED WITH FIRE RACKET Hogan Linked Smith to Moran Sentenced in V. A. Fraud. Impact: Moranβs connection to a shakedown highlighted the rampant corruption that would inspire a thousand crime dramas, leading to a national obsession with 'true crime' that continues to this day.. Fact: Crime dramas have become so popular that it's a wonder anyone actually believes crime doesn't pay. Spoiler alert: it often does! (At least in TV land.).
Wall Street Time Machine
PG
Procter & Gamble
Procter & Gamble - If you invested $1,000 in 1951, it would be worth $586,657 today (586.7x return)
MO
Philip Morris
Philip Morris - If you invested $1,000 in 1951, it would be worth $23,651,345 today (23651.3x return)
CVX
Chevron
Chevron - If you invested $1,000 in 1951, it would be worth $474,914 today (474.9x return)