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TELCON
Howard Stein/Kissinger
11:59 a. m.
4/2/71
S: Do you have a minute or two?
K: Sure.
S: This is probably not very helpful but I wanted to convey this onto you. We
understand the Administration is trying to wind down. Trying very
on part of consumers to undertand what's happaning. We took a poll
of
share holders of 400,000 (?) . We can see basis of pessimism and feeling.
Great uncertainty because the don't understand what the Administration is
doing. If they could in a clear way it would effect them as consumers.
K: How can we do that?
S: In Korean War if you look at the Dow-Jones, the market was flat. When you
went into the armistice in '53-'54 the market went up 105%. Each time you have
had international things. In the '60 period you had Berlin wall, Bay of Pigs,
and
and the market remained flat. Peacetime economy it went up
85%. In '65 when VN excalated the corporate
went flat. It's below
'55-'56 which was not a flat period. The market has begun to move up and
there's an understanding of winding down. If they understand what's happening
the Dow-Jones will sell between ? ? ? ? and corporate profits went up
Therefore, I think that all that's really necessary and needed here is one of
32 million who own shares to know what effect it would have on the market and
what effect the market would have on corporate profits and what exxxxxx effect
on ? ? ? . If the desire is to wind down the war then more x should be given
to the people.
K: Like what.
S: I have to leave that to you. I realize the situation is terribly complicated.
K: Our proplem is we have no problem dexxxxxxxxx demonstrating - - or
perhaps we do. We should be able to demonstrate we are winding down and
we want to keep ambiguity too for negotiations. You think this would have an
electric effect on share holders?
S: During all past periods there's an expansion of multiple that takes place
and when that happens people say I can sell stock and therefore build. There's
not as many problems working out an economy in diffierent exixxixxxx environmen-
tal conditions. No willingness to work out a higher price. They only
do it when they are sure it's
and can identify it.
K: Let me ask you -- there can't be more than 500 people in the country who
can effect it in terms of what investments figures. So if the top 500 got
information it would change their planes and effect their decisions?
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"ocrText": "TELCON\nHoward Stein/Kissinger\n11:59 a. m.\n4/2/71\nS: Do you have a minute or two?\nK: Sure.\nS: This is probably not very helpful but I wanted to convey this onto you. We\nunderstand the Administration is trying to wind down. Trying very\non part of consumers to undertand what's happaning. We took a poll\nof\nshare holders of 400,000 (?) . We can see basis of pessimism and feeling.\nGreat uncertainty because the don't understand what the Administration is\ndoing. If they could in a clear way it would effect them as consumers.\nK: How can we do that?\nS: In Korean War if you look at the Dow-Jones, the market was flat. When you\nwent into the armistice in '53-'54 the market went up 105%. Each time you have\nhad international things. In the '60 period you had Berlin wall, Bay of Pigs,\nand\nand the market remained flat. Peacetime economy it went up\n85%. In '65 when VN excalated the corporate\nwent flat. It's below\n'55-'56 which was not a flat period. The market has begun to move up and\nthere's an understanding of winding down. If they understand what's happening\nthe Dow-Jones will sell between ? ? ? ? and corporate profits went up\nTherefore, I think that all that's really necessary and needed here is one of\n32 million who own shares to know what effect it would have on the market and\nwhat effect the market would have on corporate profits and what exxxxxx effect\non ? ? ? . If the desire is to wind down the war then more x should be given\nto the people.\nK: Like what.\nS: I have to leave that to you. I realize the situation is terribly complicated.\nK: Our proplem is we have no problem dexxxxxxxxx demonstrating - - or\nperhaps we do. We should be able to demonstrate we are winding down and\nwe want to keep ambiguity too for negotiations. You think this would have an\nelectric effect on share holders?\nS: During all past periods there's an expansion of multiple that takes place\nand when that happens people say I can sell stock and therefore build. There's\nnot as many problems working out an economy in diffierent exixxixxxx environmen-\ntal conditions. No willingness to work out a higher price. They only\ndo it when they are sure it's\nand can identify it.\nK: Let me ask you -- there can't be more than 500 people in the country who\ncan effect it in terms of what investments figures. So if the top 500 got\ninformation it would change their planes and effect their decisions?"
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