Word: glutting
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...boom was fueled largely by easier-than-expected credit. If it were to continue unabated for another year, overbuilding might set the stage for a severe slump in 1974. Nationwide, home and apartment vacancies are still relatively low, but 1972 nevertheless brought the first signs of an emerging glut in some areas where housing demand had appeared insatiable. Starts in California have run well ahead of population increases for the past two years. Apartments are in oversupply in Atlanta, Dallas, Los Angeles, Denver and Minneapolis. In Houston, after a decade of rapid construction, many apartment buildings are only 80% rented...
...completion of research for Nader's Congress Project to make sure it would appear before the elections. This first publication of the Congress Project is a compendium of stale gossip, common knowledge and worn proposals. Although the premise for the report is that an informed citizenry will act, the glut of information may be an impediment rather than a spur to the reader...
...heroin and old-fashioned alcohol have generally replaced pot and LSD; violence has supplanted Aquarian love. Now the area is open to the professional pimp, who uses a combination of terrorism, drugs and ersatz affection to lure confused teen-age girls into prostitution. The teeny-hookers have created a glut on the market, sneers a tough old pro of 20. "They want to set the world on fire -and they ain't even got their period...
...glut arise? Prices were as high as $1 a dozen retail in 1969 and early 1970, causing many farmers to overorder new laying hens. Since high prices meant high profits, many outside investors-looking for the tax advantages that farming can offer-put their money into eggs. Early last year a new vaccine was swiftly eliminating Mareks disease, an affliction that used to wipe out 15% to 20% of the nation's hens every year. Besides, per capita egg consumption has remained virtually static at little more than 300 per person a year...
...government finally seems to be moving decisively against the import glut. The piaster, long ridiculously overvalued at a rate of 118 to the dollar, was pegged at a more realistic 275 last year; last week it was slashed further. For most transactions, the piaster would be pegged at 410 to the dollar -close to the black-market rate. Simultaneously, a system of varying exchange rates and customshouse taxes was imposed to make necessities like most foods and plant equipment cheaper to import while raising the cost of luxury items like caviar, Hondas and cars...