Word: grains
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Dates: during 1970-1979
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...Soviet grain deal was an economic Bay of Pigs for the Nixon administration. Henry A. Kissinger '50 led the ill-planned and uncoordinated foray into Soviet economic policy which resulted in disastrous consequences for U.S. markets and international prestige...
...formulation of the grain deal is a good example of how separate U.S. economic and political interests can interact to produce a plan beneficial to none of these interests. Through Soviet trade, the U.S. Department of Agriculture (USDA) wanted to reduce domestic grain stockpiles and mildly bolster farm incomes; Kissinger hoped to further cement the U.S.-Soviet political detente. The prospect of establishing Soviet dependence on the U.S. for food probably outweighed, in Kissinger's mind, the seemingly minor economic advantages of a poorly negotiated deal...
...December 1972, in the midst of a severe Siberian winter which decimated the Soviet winter wheat crop, the USSR spoke to USDA officials about grain trade. The Soviets wanted a one-year deal with long-term credit. The U.S. responded with an offer of a long-term deal with no credit...
...following page), but America's newly fat and happy farmers are jubilant. With the notable exception of cotton, which is expected to be 4% behind last year's crop, never before has there been so much to harvest. Midwest farms are producing such quantities of grain and golden soybeans that equipment dealers cannot get enough storage bins for them. Even though a month of above-normal rainfall slowed the start of the harvest in the grain belt, the U.S. Department of Agriculture forecasts record crops of 5.8 billion bu. of corn (up 4% from last year), 1.6 billion...
Specifically, the program would cut food costs by 50% immediately by taking the following steps 1) Nationalizing all food distribution, with the government buying food at fixed prices from farmers, eliminating the grain markets. 2) Nationalizing the capitalist farmers. 3) Abolishing existing farm debt, including is a slate in name only, with its members holding different positions on major issues, it is expected to help the conservative voter identify his kind of politicians...