Posted on 12/09/2003 6:38:58 AM PST by RWR8189
Putting the Ax to the Axis
UNLIKE VIETNAM SOME 30 years later, in December 1941 the only people lying about their age or searching out sympathetic doctors for notes were trying to fake their way into the armed forces. Men too old and boys too young to be eligible for service managed to slip past the recruitment authorities. It was easy to do, with more than 16 million males enlisting or being drafted into the armed forces. Another 245,000 women in the Women's Army Corps and WAVES ("Women Accepted for Voluntary Service," which was the women's Naval auxiliary created largely through the efforts of Sen. Margaret Chase Smith) supported the effort. Other women, such as actress Ida Lupino, joined the ambulance and nurse corps, while Julia Child, later to be a cooking guru, served with the Office of Strategic Services in Ceylon. Ethnic minorities, discriminated against at home, such as the Japanese and blacks, brushed off their mistreatment to enlist, winning battle honors. The Japanese-American Nisei Regimental Combat Team (442d) became the most decorated American division of the war, and included future U.S. Senator Daniel Inouye, who lost an arm in combat. The all-black 99th Fighter Squadron saw action in Italy.
Celebrities of the day did not hesitate to enter the armed forces. Even before Pearl Harbor, many well-known personalities had signed up for the Reserves, including Major Cecil B. DeMille, Brig. Gen. Cornelius Vanderbilt, III, and Colonel David Sarnoff. Once war broke out, though, rather than seeking safety behind the lines, a number of movie stars and sons of elite families gave up their prestige and the protections of wealth to actively pursue combat assignments. Theodore Roosevelt, Jr., quit his job in 1941 to go on active duty as a colonel, and later saw action on D- Day. Academy Award winner Van Heflin joined the Army as an artilleryman; television's "Gunsmoke" hero, James Arness, was in the Army and wounded at Anzio, earning a Bronze Star; Eddie Albert, wounded at Tarawa, also earned a Bronze Star rescuing wounded and stranded Marines from the beach; "Get Smart's" Don Adams, a Marine, contracted malaria at Guadalcanal; Charleton Heston was a radio operator on B-25 bombers; Art Carney, sidekick of Jackie Gleason in the "Honeymooners," suffered a shrapnel wound at St. Lo before he could fire a shot; Ernest Borgnine---who later would play fictional Lt. Commander McHale in "McHale's Navy"---had already served in the Navy 12 years before WW II; Lucille Ball's famous Cuban husband, Desi Arnaz, was offered a commission in the Cuban navy, where, as an officer, he would be relatively safe on patrol in the Caribbean. He refused, choosing instead to enlist in the U.S. Navy, where he was rejected on the grounds that he was a non-citizen. Nevertheless, he could be drafted---and was---and despite failing the physical, went into the infantry, where he injured his knees. He finished the war entertaining troops. Other young men went on to literary or theatrical fame after the war. Novelist Norman Mailer went ashore with his infantry regiment in the Philippines; and western writer Louis L'Amour hit the beaches with his tank destroyer on D-Day. Alex Haley, who later became a famous novelist, served in the U.S. Coast Guard, while author William Manchester was wounded and left for dead, recovering after five months in a hospital. Tony Bennet, serving as an infantryman in Europe, got his first chance to sing while in the Army. Men who later would become Hollywood stars, including William Holden, Charles Bronson, Jack Lemmon, and Karl Maulden, signed up. Holden flew bombers over Germany, Ed McMahon was a U.S. Marine fighter pilot, and George Kennedy served under Gen. George Patton. Football greats, such as Tom Landry, coach of the Dallas Cowboys, flew B-17s with the Eighth Army, and baseball great Yogi Berra served as a gunner on a Navy bombardment ship. More than a few became heroes. Future director Mel Brooks fought at the Battle of the Bulge, Tony Curtis served on a submarine, and an underage Telly Savalas, later known for his television "Kojak" cop show role, was critically wounded in action and told he would never walk again. Academy Award winner Lee Marvin assaulted more than 20 beaches in the Pacific with his Marine unit, and in one battle, only Marvin and five others out of 247 survived. Walter Matthau, famous for his roles in the "Odd Couple" and the "Bad News Bears," won an impressive six silver stars as an Air Force gunner. None was more decorated than Audie Murphy, who became an actor after the war based on his incredible career. Murphy was the most decorated soldier in World War II, being awarded the Medal of Honor and 27 other medals, plus the French Legion of Honor and the Croix de Guerre.
Others, such as directors John Huston and John Ford, entered combat situations armed with movie cameras instead of guns, shooting war documentaries for propaganda. Science fiction writer Ray Bradbury honed his skills writing patriotic radio commercials. Jazz great Al Hirt entertained troops as part of the 82nd Army band, while bandleader Glenn Miller, who enlisted in the Air Force and was commissioned a captain, died while flying to Europe to entertain troops. Even civilians, at home or in service at the front, occasionally made the ultimate sacrifice, as when actress Carole Lombard died in an airplane crash on a tour selling war bonds. Ironically, one of the heroes most frequently associated with the military, John Wayne, was not drafted due to his large family, although he made several war movies that boosted morale immeasurably.
Dow Rise Overdone?
Some investors may sell shares once the Dow nears 10,000, reasoning that the market's rally is overdone, said Michael Burke, editor of the Investors Intelligence newsletter in New Rochelle, New York. It may take years for the benchmark to surmount 10,000 for good, said Burke, much as the Dow struggled for 16 years to cross 1000.
``It's a natural psychological resistance level,'' said Burke. ``You got to the 1000 level, and that was it. Then it just died.''
The Dow came within five points of 1000 in February 1966 before slipping. It took the benchmark more than six years to cross 1000. When the Dow did, in November 1972, it only stayed above that plateau until January 1973. The index crossed 1000 again in 1976, 1980 and 1981, though it wouldn't remain there for good until October 1982.
Brusca disagreed with Burke, arguing that economic and corporate profit growth is fast enough to justify the Dow's climb to 10,000 and higher.
``You've got to break 10,000 before you get above it,'' he said. ``Breaking the barrier is good and it's necessary.''
The economy expanded at an annual rate of 8.2 percent in the third quarter, the fastest since 1984. Corporate profits are increasing, with Intel Corp., the world's biggest maker of computer chips, saying third-quarter earnings more than doubled. Its fellow Dow member, aluminum supplier Alcoa Inc., reported a 40 percent increase.
DOW 10,000 (oops, wrong way) from 8/30/2001
i think they will pay dearly for that.
Note that I still haven't abandoned my basic forecast, merely shifted the timeframesAnd at what point do you abandon your basic forecast?
The USSR never gave up on releasing new five-year plans.
There are also major institutions that long for the days of corrupt Rubin and would do anything to subvert the market. It's a dangerous game tho, as they are finding out. The public has cash to invest over and above what they paid for their homes.
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