Word: spiral
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Dates: during 1970-1979
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Although Americans are particularly chastened by their spiraling inflation, having so long considered themselves immune from it, what is happening in the U.S. is only one manifestation of a larger, more virulent strain of worldwide inflation. Like some medieval plague, inflation today is sweeping across national borders to infect almost every country at the same time. And the consequences of the international spiral go far beyond economics: they include a sharpening of social divisions and a shaking of values, as inflation rewards speculators while penalizing thrift. The ultimate threat is that inflation will eventually weaken confidence in democratic governments...
...efficiency." In the present climate, that notion sounds almost quaint. Equally quaint, perhaps, would be the ideas that hard work really is a virtue, that blue-collar jobs have dignity, and that increased leisure must be paid for in productivity?or a debilitating price spiral. Yet if any lesson is to be learned from the current surge of inflation, it is the simple and indisputable fact that there is no such thing as a free lunch...
...consumer. The run on commodities, however, has hurt everybody. Investors seeking tangible value have speculated wildly in wheat, sugar, potatoes, copper and lumber, helping to set off a mad spiral in the prices of these and other basic raw materials. A Reuters index of 17 commodity prices has zoomed from 509 in the fall of 1971 to 1,422 in March (see chart page...
...weekend marked a low point in the continuing downward spiral of Cornell's basketball program. Second-year coach Tony Coma, whose claim to fame lay in coaching Earl "The Pearl" Monroe at Philadelphia's Bartram High School, announced his resignation for "personal reasons" Thursday, leaving Ithaca with a 7-38 won-lost record. Assistant Tom Allen stepped in as interim coach against the Crimson...
...fortunes of Spiro T. Agnew spiral steadily downward. He has been off the federal payroll since last Oct. 10, the same day he pleaded nolo contendere to a charge of income tax evasion (though his perquisites still include a Government-paid staff of six, a Secret Service detail and a limousine). Friends have been able to raise only $40,000 toward paying his legal bills, which may exceed $200,000. Last week, rejecting Agnew's plea "not to strip me of my means of livelihood," a three-judge panel appointed by the Maryland Court of Appeals unanimously agreed that...