Word: spiralled
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...Chairman Walter Heller, a member of TIME'S Board of Economists and until now a firm opponent of farm controls, for the first time reluctantly concludes that such a freeze may become necessary. "It's economically distasteful, but may be needed to block a new price-wage spiral," he says. Many economists still fear, however, that a freeze or stern controls on the prices of agricultural products would lead to food shortages and even rationing. Farmers and ranchers will not produce enough unless the price is right...
...many Americans, the large U.S. trade deficit with Japan has been the cause of worsening economic relations between the two countries. I think that such a view is too superficial. The actual situation is that the U.S. has failed to correct economic imbalances, such as the wage-price spiral, which have been spurred on by the Vietnam war and have led to its worsening balance of payments position. In addition, the "world famous" vigor of the U.S.-owned multinational corporations has played an important role in restricting export and employment opportunities in the continental United States. For example, if Japan...
...Nixon has never relished the job of price controller, and last week he turned part of the responsibility over to someone he said had far more clout: the American housewife. At his news conference, the President asserted, in effect, that the Government can do nothing more to stop the spiral in food prices. Controls on agricultural products, he insisted, would only breed a black market. Then he added: "The greatest and most powerful weapon against high prices in this country is the American housewife. Her decisions . . . whether she buys something that is more expensive or less expensive, have...
Insofar as this play has a psycho logical terrain, it is limbo. Symbolically, a spiral staircase on the stage ends in midair, leading nowhere. Two actors a brother (Michael York) and a sister (Cara Duff-MacCormick) have been deserted by the rest of their company on a tour of some unnamed country. In panic they improvise "The Two Character Play," a misty memory of a long-past family life in a southern U.S. city that culminated in the murder of their mother by their father and his suicide...
...standard, which Nixon must have known was coming, obviously risks giving a new spin to the destructive wage-price spiral. United Rubber Workers President Peter Bommarito, who will be negotiating several important contracts later this year, told colleagues in Florida that he plans to shoot for a 10% pay raise in the first year of each new pact. An implied tie between wage increases and the cost of living would almost surely prompt union negotiators to press for extra-high wage boosts, since the Government's consumer price index has lately taken some big jumps. In January it rose...