The Steel Crisis

is on. The famous strike was caused initially by the industrialists who needed to keep prices high even though stocks were at an all-time high. Probably before the year is out the American economy will have to face, once the elections are over, a serious recession. According to certain left-wing trade-unionists (in Chicago I was moving mostly in those circles) the American economy, caught as it is in a vicious circle of sales on credit and forced consumption, appears to be very fragile, hanging by a thread.