Word: billioned
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Dates: during 1960-1969
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...fate of the Everglades is absolutely dependent on water. Each year, 153.5 billion gallons flow through the swamps as a strange kind of river, less than a foot deep and up to 50 miles wide. Changes in the water's quality, quantity and seasonal rhythms endanger the park's incredibly diverse plants and wildlife. And yet, for the past two decades, nearby flood-control projects have steadily dehydrated the glades by diverting water to crop land, commercial and industrial use. The Everglades, explains Park Superintendent Jack Raftery, "is a demonstration that no natural region can be divorced from...
...last week was a tribute to its role as the basic currency of the world monetary system rather than to the international strength of the U.S. economy. At week's end, the Treasury disclosed that the U.S. balance-of-payments deficit rose in the second quarter to $3.8 billion - more than double the dollar out flow of any previous quarter...
...have borrowed many of these dollars to re-lend in the U.S. These "turnaround" dollars count as a capital outflow when deposited in Europe, but do not count as an off setting inflow when re-loaned in the U.S. Government economists say this distortion may have accounted for $2 billion of the $5.5 billion first half pay ments deficit...
That still leaves a shocking deficit. In the early 1960s, U.S. exports exceeded imports by an average $5.5 billion yearly. This year imports are exceeding exports - by $29 million in the second quarter. With no trade surplus, the U.S. is dependent on inflows of foreign capital to offset its overseas military and tourist spending, and it is no longer getting such inflows. As stock prices declined, foreign purchases of U.S. securities dropped by $1 billion in the second quarter, to $300 million...
...Kaunda expects to pay shareholders for their loss entirely out of future copper profits. These are already so heavily taxed that even if dividends are maintained at their present level, the Zambian government can hope to realize only $5,000,000 a year from the two companies' $1.1 billion-a-year sales of copper. Thus the final payoff could be delayed for decades...