Word: droughts
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While the economy grew at a relatively modest 2.6% annual rate during the third quarter, the expansion actually amounted to 3.2% if the effects of the summer drought are excluded. That level of growth, while not quite inflationary in normal times, is straining against a shortage of workers and factory capacity. Unemployment in the U.S. has remained at low levels, though the Government reported last week that the jobless rate for November inched up to 5.4%, compared with 5.3% the previous month. Factories were operating at 84% of total capacity, the highest level since February...
...Even though there was a big drought and we only had two days of rain all summer, the people in the farm towns were still very generous and prepared big meals for us," Faber says. "In Minnesota, there was a farm family, and even though their farm was about to be foreclosed they let all 20 of us stay and cooked for us. They even brought us to a farm crisis meeting...
...surface, the news from the Commerce Department looked bad. Showing the effects of a still high trade deficit and this summer's drought, the U.S. gross national product expanded at an annual rate of only 2.2% in the third quarter, down from 3.0% in the previous three months and the weakest performance in nearly two years...
Victims of hurricanes, drought, debts, superstition and disease, peasants are constantly preyed upon. Those with a bit of land are hesitant to improve it for fear of attracting the attention of covetous gros negs, who often hire corrupt lawyers to steal the land on one pretext or another. The rural police, notaries and Tonton Macoutes also seize property with a flourish of phony documents and a bag of city tricks. Even those who try to help the peasants often end up hurting them. When African swine fever hit the pig population of Haiti several years ago, Haitian authorities, under...
Already La Nina has been credited with a role in causing this summer's drought in the Midwest, the deluges that flooded Bangladesh in September and the severe hurricane season in the Caribbean and the Gulf of Mexico. While widespread attention has been paid to the greenhouse effect -- the trend toward global warming due to the increase of carbon dioxide and other gases in the atmosphere -- some scientists believe that this winter La Nina will bring on a dramatic, though probably temporary, drop in average global temperatures. Says meteorologist and oceanographer James O'Brien of Florida State University...