Word: floodings
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Dates: during 1970-1979
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...world are skeptical of any deal whereby an auction house may in effect end up supporting its own market. Says David Bathurst, Christie's New York president: "Using art as an investment scares the hell out of me. There's going to be a flood of money in and out, leaving a sound market devastated because of people who shouldn't have been there in the first place...
...flood of undiscriminating investment capital that flows toward art these days may yet produce a crisis analogous to the one that nearly sank the Bordeaux wine industry in the early 1970s. A surge of investment in Bordeaux vintages, to some extent by people who could not tell Medoc from camels' urine, shoved prices so high that traditional consumers of claret switched to Italian and other wines, thus tearing the bottom out of the market...
...flood of Christmas cards, a challenge to Khomeini, an exit for the Shah...
Saudi Arabia can no longer even hold down prices by threatening to flood the world market with crude, a tactic that Petroleum Minister Ahmed Zaki Yamani successfully employed as recently as late 1976. The key reason is that the Saudi fields are reaching maturity, and it would take years of work and billions of dollars in fresh investments to boost daily production of about 9.5 million bbl. by very much for any length of time...
However the fights in Michigan and Minnesota come out, a flood of additional Indian-rights claims may soon engulf courts across the country. Congress has set a deadline of April 1 for the Federal Government, which legally is the protector of the Indians, to file suits on their behalf. Pushed by this deadline, many tribal councils that have been attempting to negotiate solutions of their problems with whites may demand that Washington take the cases to court...