Word: excessive
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...stable employment is being challenged by heavy losses the company has sustained over the past 15 months. It lost $7 billion during its last fiscal year, and more red ink is flowing this year. And the recession and the drop in auto sales in the U.S. saddled Toyota with excess capacity in the U.S., leaving it little choice but to cut production, says David Cole of the Center for Automotive Research in Ann Arbor, Mich. (Read "GM and Germany Still Wrangling Over Opel...
Take no comfort in that excess. Unlike crude, natural gas cannot be stored just anywhere we want; we also cannot transport it very easily. Gas is typically stored in underground reservoirs. The pressure of the gas and the type of reservoir can make injection and extraction cycles difficult and lengthy processes. Until traders see extra storage realized, the natural gas market will be priced in steep contango, meaning prices of natural gas for future delivery will hang far above the current price. The low prices now represent the abundance of unusable and potentially unstorable gas, a situation that will...
Deficits aren't always bad: excess government spending can help alleviate the pain of an economic downturn by encouraging business and curbing unemployment (this is the theory behind the New Deal and Obama's stimulus package). But that doesn't mean that deficits are good, either. The U.S. covers the shortfall by issuing more government bonds, which can drive up interest rates and lead to inflation. Deficits also make it harder for a financially strapped government to deal with unexpected disasters. In fact, the last U.S. budget surplus occurred in 2001, when Washington was able to use fiscal and monetary...
...When the pig is slaughtered, at about 5 months of age, he'll become sausage or bacon that will sell cheap, feeding an American addiction to meat that has contributed to an obesity epidemic currently afflicting more than two-thirds of the population. And when the rains come, the excess fertilizer that coaxed so much corn from the ground will be washed into the Mississippi River and down into the Gulf of Mexico, where it will help kill fish for miles and miles around. That's the state of your bacon - circa 2009. (See TIME's photo-essay "From Farm...
...recent years, as India embraced the free-market philosophy she championed, Devi--disillusioned by political corruption and the decay of her beloved city--devoted herself to charitable work. "Jaipur is ruined," she said in a 2006 interview. "Everybody's just making money." The feudal excess of its royal past had been replaced by the excesses of concentrated wealth and power, and the love of a princess wasn't enough to save...