Word: spiraling
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...give the markets convincing evidence that he is free of influence from the White House." Without that evidence, foreign investment in U.S. securities, a crucial factor in underwriting the budget deficit, might well dry up. That in turn would undoubtedly lead to a vicious spiral of increased interest rates to woo back the creditors, resulting ultimately in a slowdown of economic growth and the doleful prospect of U.S. and possibly even global recession...
...fast-track careers of Novelists Jay McInerney, 31, and Bret Easton Ellis, 23, have intriguing parallels. McInerney's 1984 best-selling fictional debut, Bright Lights, Big City, chronicled the downward spiral of an unnamed young writer who delves into New York City's nightclub netherworld with the help of his fast-talking best friend, Tad Allagash. Next year Ellis' Less than Zero caused a publishing sensation with its stark portrayal of sybaritic youth in suburban Los Angeles. Both writers' books are currently being made into major motion pictures. And both writers are slated to come out with new novels within...
...latest round of the thrift fiasco began in 1980, when Congress last tried to make life easier for the savings institutions. At that time the industry was still reeling from the inflationary spiral that sent interest rates soaring and left the thrifts with billions of dollars of low-interest 30-year mortgages on their books. Congress tried to remedy the situation by allowing the thrifts to expand their business far beyond those traditional instruments into stock and bond investment as well as business loans, particularly in commercial real estate. At the same time, thrift deposits continued to receive federal guarantees...
Kinnear knew that many of Texaco's creditors and suppliers were getting jumpy and that the Supreme Court decision might cause the whole situation to spiral out of control. In an affidavit filed in a Texas appeals court, Texaco outlined in detail the pressures it was under. Chase Manhattan had demanded that Texaco maintain new minimum balances in its accounts before the bank would transfer funds to satisfy commercial obligations. Worse, Manufacturers Hanover Trust had canceled a $750 million line of credit...
...deep-rooted social problems, a new sense of community values. Reagan has done what he has done, and he has accomplished much. He presided over one of the longest periods of economic recovery in American history, a time attended by the end of inflation and of the wage-price spiral. He rolled back the writ of the Federal Government, helped to initiate tax reform, strengthened (amid some set-backs) the American posture in the world. But now one feels the ground shifting underfoot, a grinding of the tectonic plates...