Word: gluttingly
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...smoothly for some 20 years, but by the late 1960s it was coming apart. The problem was that large American balance of payments deficits, caused by factors that ranged from rising U.S. imports to hefty outlays for foreign aid and the Viet Nam War, were creating a huge dollar glut abroad. By the end of 1970, foreign countries held some $36.4 billion in dollars, far more than could be redeemed out of U.S. gold reserves, which had slipped to just $11 billion...
...these many-splendored displays give the designers a hard deadline to fix on. "They're an exam, an essay, a résumé," agrees Gianfranco Ferré. "They mean I have to get my point across in 20 minutes." The point can become blunted by both visual glut and fashion overkill, however. When the eight weeks of fall fashion previews are over, a member of the fashion corps could easily have seen more than 100 different shows, some pitiful and many derivative...
...current oil glut could hold the seeds of a future shortage. The ailing energy industry, however, may have finally and painfully absorbed an even simpler notion: booms have a way of becoming busts...
Part of Denver's office glut reflects the collapse of the synfuels industry, which was to have produced high-cost fuels from shale, tar sands and other sources. Dozens of projects have been shelved in the face of falling energy prices. One of the largest was Exxon's multibillion-dollar Colony Shale Oil venture near Parachute, Colo., which was closed a year ago at a cost of 2,100 jobs. Recalls Allen Koeneke, president of the First National Bank in Rifle, Colo. (pop. 3,215), some 17 miles away: "When the news hit, we would have...
...wheat, rice and cotton crops, farmers will receive up to 95% of their normal yield of these commodities free from Uncle Sam's warehouses. This is an economical way for the Government to reduce the cost of storing surpluses, and it should help the farmer by removing the glut that has caused prices to plunge. But where does it leave the marketers of such items as fertilizer and farm equipment, already suffering from depressed sales because of the recession? As they say on the farm, up the creek...