Word: glut
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Dates: during 1980-1989
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During the past four difficult years for the Organization of Petroleum Exporting Countries, Saudi Arabia has been its derrick of strength. But the oil industry churned last week with rumors that the rich kingdom has finally grown weary of that role. After trying to fight a global glut by cutting its output from 10.3 million bbl. per day in 1981 to about 2 million bbl. per day currently, Saudi Arabia now appears eager to move its merchandise again. Traders believe the country will try to double its sales by quietly offering price cuts that could include...
...possessions, including their passports. The unhappy caravan was the first wave of some 90,000 Tunisian workers in Libya affected by Libyan Strongman Muammar Gaddafi's decision earlier this month to expel foreign workers. Libya's economy has been hard hit by reduced earnings resulting from the oil glut...
Still, experts wonder how long no-frills operators can enjoy such a smooth journey. As new companies enter the market and established chains expand, there is the growing risk of a glut. "Profit potential now is high, but success breeds excess," says Daniel Daniele, an analyst at Laventhol & Horwath, an accounting firm specializing in the lodging industry. Daniele predicts an industry shake-out in the next two to five years, but that is a distant prospect. This summer travelers tooling down interstate highways are sure to find plenty of bargain motels...
Cousins' writings, along with a glut of similar books, television features and articles -- some by doctors -- have convinced many Americans that a positive mental attitude can help prevent and even cure a variety of ills, including cancer, and, conversely, that a negative outlook can increase vulnerability to disease. Last week the New England Journal published a study and an editorial that cast doubt on that popular view and stirred a tempest in the medical community...
...affects both present and past. It makes past art look ghostly and value-free, so that it can be quoted and ^ shuffled at will, without deference to the values it once embodied. Hence the postmodern assault on the chief form of classical modernist painting, abstract art. A general culture glut opens the present to a limitless eclecticism and disarms taste by making everything "interesting." And, as the critic Charles Newman argues in the most provocative book on this problem yet written by an American, The Post-Modern Aura, its net effect is inflation: the permeability the past has acquired...