Word: surplus
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Dates: during 1970-1979
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...build plants abroad, businesses evaded the controls by borrowing in the Eurodollar market. The amount of Eurodollars available for borrowing sharply increased after the 1973-74 jump in oil prices. Members of the Organization of Petroleum Exporting Countries, unable to spend their petroprofits fast enough, began parking many surplus dollars in banks outside the U.S. Cartel members now have $74 billion in these Eurodollar deposits. Bankers also started lending large amounts of Euromarks and Euro-francs, which are West German marks and Swiss francs deposited outside their home countries...
Currier House became Trilling's symbol for what she disliked at the Quad. She and her husband turned down the Currier apartment offered for their visit. The house which opened that fall reflected "a combination of luxury and mess." She was "appalled at the surplus...the entertainment rooms stocked down to the last wine glass." How could students hold parties in such luxury and still spill yogurt on the dining room floor? Where were their manners...
...Yankee dollar's weakness on money markets also reflects decreased innovation. For years high-technology exports such as computers and telecommunications equipment provided a comfortable trade surplus. But since the early '70s foreign manufacturers have strongly challenged American industrial products, and the U.S. has been suffering increasingly severe trade deficits, thus weakening the dollar. It is all too easy to blame the trade deficit on skyrocketing oil prices, though they are a major cause; Japan, which must import all its oil, has maintained a trade surplus by developing high-technology products and aggressively selling them abroad. A prime...
Ironically, the electricity from the power lines is not currently needed; the utilities already have a surplus. As in the Four Corners area, the power lines are constructed to serve future energy needs--for mining and industry, not communities...
More significant than the size of the surplus is the simple fact that Rosovsky and his University Hall accounting team have balanced the budget again. From 1968 to 1977 the Faculty found its budget over-extended across new programs and expanded services begun in the prosperous '60s, and it ran a deficit in most of those years. The 1976-77 budget was the first to show a surplus in almost a decade...