Word: spiralled
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Dates: during 1970-1979
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...detailed knowledge of Hollywood decadence in writing the Oscar-winning screenplay to an all-that-glitters-is-not-sequins sunset city epic. William Holden gurgles the narration from his face down predicament in Gloria Swanson's swimming pool, but after the devastingly effective shot of Miss Swanson descending the spiral staircase, it is understandable why he chose to watch the action from that vantage point. One gets the feeling that only those who have seen this peculiar type of behavior will appreciate it, and maybe even they wouldn't. Channel...
...means as stiff as the Administration had hinted they would be. They allow farmers to sell for whatever the market will bear; they continue earlier wage guidelines; and despite some tightening on profit margins, they will pinch most corporate earnings only slightly. Phase IV should slow the rising price spiral, but there is little chance it will lower inflation to acceptable levels this year...
...more than a year ago, by one preliminary estimate. Generally, high profits are good news: they fuel the engine of a free-enterprise economy. But in this case, the gains are one more sign of an overheating boom -and, more specifically, they threaten to start the wage-price spiral whirling again by prompting labor leaders to make outsize pay demands...
...sustained burst of personal spending, especially in the first three months of 1973, is propelling retail sales and corporate profits to new peaks. It is also raising nightmarish prospects for Administration policymakers charged with the tricky task of keeping the economy moving briskly while avoiding a destructive price spiral. Their efforts to check inflation could well prove futile unless the blistering pace of consumer buying is somehow slowed in the months ahead...
...income people were using substitutes and selective buying before the present spiral began, but now they are hanging at the end of the rope with no relief in sight. What we are being told is, if you cannot keep up with the price rise then lower your standard of living...