Word: excessives
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...crop-storage problem of epic proportions. All across the corn belt, from Indiana to Nebraska and Missouri to Minnesota, a binge of bin and silo building is in full swing. Reason: by the end of summer, U.S. farmers and the Department of Agriculture will be buried under more excess wheat, corn, rice and other products than ever before in history. Last week the immensity of the surplus became clear in the marketplace, as commodities traders sent the price of corn futures plunging to $1.71 per bu., the lowest level in twelve years...
...tarpaulin-covered mountains of wheat. The unsentimental truth is that America's farm industry, once a source of pride and power, has become an economic burden. Because so many other countries have improved their agricultural output, maintaining America's vast farming capacity is now a costly exercise in excess. During fiscal 1986 the expense to taxpayers for supporting farm programs will reach, according to the Government's estimates, $24 billion -- a 36% increase over last year. As exports shrivel and imports increase, the U.S. agricultural industry no longer even produces the hefty foreign exchange earnings that farmers once provided...
...billion bu. of wheat, a record overstock, and 847 million bu. of soybeans, almost 40% more than at the same time last year. Kansas alone held 178.8 million bu. of grain sorghum, a livestock feed, almost 80% more than in June 1985. The U.S. is producing a huge excess of milk as well, a problem reduced only partly by the USDA's program this year to pay thousands of dairy farmers some $1.8 billion to send their herds to slaughter or export markets...
...fuss? she might have been thinking. The question is understandable: after 100 years there is little the old girl has not seen before. But as an immigrant herself, she is perhaps even more sensitive to the curious ways of her adopted country, silently indulgent of good old American exuberance, excess and, yes, glitz. Though millions of visitors gawked at her, perhaps no one looked quite closely enough. Let them cavort, she seemed to say with an imperceptible smile. Liberty may be proud, but she isn't haughty. Look again. Was that--could it have been--a wink...
...rare move, the grand jury charged that Shearson managers and employees knew about the money-laundering scheme. Now a subsidiary of American Express, Shearson is also accused of violating the federal Bank Secrecy Act, which requires that financial institutions report to the Internal Revenue Service all cash transactions in excess of $10,000. If convicted, Shearson faces a maximum fine of more than $16 million. While several banks have been charged with money laundering, it is unusual for a brokerage firm to be indicted for that offense...