Word: glut
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Dates: during 1970-1979
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...Supreme Court, in Miller v. California, laid down one more set of guidelines for legislators and prosecutors dealing with illegal obscenity. The hope was that by using those guidelines, local judges and juries, exercising local standards of taste, would be able to dispose of a vast and growing glut of pornography cases. That hope was short-lived. Merely by considering the case of Jenkins v. Georgia, the court was, in effect, admitting that it had yet to find an escape from its unwanted role as the nation's chief censor. Once more the Justices found themselves reviewing a movie...
Most cheering to consumers-and worrisome for farmers-is the conversion of last year's meat shortage into a glut, as a result of heavy production and a continuing reluctance by budgetconscious housewives to buy meat as freely as they once did. Prices of live hogs have dropped as much as 29% below a year ago, and cattle on the hoof are down 15%. Financially pressed feed-lot operators indeed claim that they are being forced to sell cattle for slaughter for $150 to $200 per animal less than they paid to buy and raise the same steers...
Bountiful Days. Gone are the bountiful days of the 1960s, when the United Nations' Food and Agriculture Organization worried about how to dispose of a glut of food, and the U.S. Government paid its farmers not to plant crops. Now the world's food reserves are at their lowest since World War II, amounting to a mere 27 days of consumption. "We're just keeping our heads above water," observes FAO Official John Mollett. "But the margin of safety is decreasing. One big crop failure anywhere and it could be every country for itself." For most countries...
...established demand for their art. A young or obscure artist has no bargaining position on resale rights when a collector appears in the studio. Every year the U.S. art-education system cranks out more than 30,000 graduates, each with a degree saying "artist"; there is a glut of immature but professional-looking talent, and the creaky rating systems and distribution methods of the world art market cannot possibly cope with all of their work...
...Rathbone, then chairman, began to get more and more reports that oil use was running increasingly ahead of new discoveries-and that Arabs would one day demand greater control over their resources. He ordered a stepped-up search for oil-even though the world then had a crude glut. In the past decade, Exxon's worldwide reserves have increased more than 9 billion bbl., or 21%. Crews are now searching, with good prospects, on Canada's Tuktoyaktuk Peninsula not far from the Alaskan North Slope and off the coasts of Southeast Asia-among many other places...