Word: spiralled
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Dates: during 1970-1979
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...issue now is how to maintain the pace without touching off a new inflationary spiral. Some liberal Democrats feel that merely extending current tax cuts will not be enough to maintain annual production growth at the desired level of 7% to 8%; they are calling for $8 billion to $10 billion a year more in cuts. Ford probably would not go along with that, unless Congress also agreed to sharp spending cuts in an election year-an unlikely prospect. In the end, the solution may well involve extension of this year's cuts with no offsetting action on federal...
...sell goods at high prices. In the U.S., while unemployment rose to 34-year highs, the rate of consumer price inflation dropped from 12.2% last December to 5% from March through May. It now seems to take a much deeper recession than in past decades to break a price spiral. There are three reasons for this...
...sink into much deeper trouble. The private carriers would take away business in cities and suburbs, where high volume makes it easier to turn a profit, and leave to the Postal Service the rural, low-population areas, which are gross money losers. The prospect would be a never-ending spiral of higher rates, lower volume and deteriorating service. As rates went up, more customers would flee, and rates would have to go up again...
Already the spiral is beginning. Since 1969, because of high rates and poor service, the Postal Service has lost about one-third of its parcel post business to private companies. This year, for the first time since the Depression, total mail volume-not just parcel post-is down. Reason: rising rates in a time of economic recession. Postmaster General Bailar, along with nearly everyone else who has studied the problem, warns that the vastly higher rates proposed by Wenner would shrink volume still further. Yet, adds Bailar, "the fixed costs of postal service would remain," and thus rates would have...
Many schools, including Harvard, have undertaken extensive investigations of grade inflation, but reversing the grade spiral may ultimately cause more damage than has been incurred during nearly five years of the inflation. Many have argued that selective implementation of grade-deflationary policies at certain schools will only serve to hurt students at those schools, while others reap even greater benefits of inflated grades elsewhere...