Word: spiralling
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Dates: during 1940-1949
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...some way for the government to take up that money. Taxes play their part, and it will be an increasingly important part, but they are not enough. Unless the gap can be filled with voluntary borrowing, either compulsory loans will have to be initiated, or a vicious inflationary spiral will set in, with the government simply outbidding private consumers by printing more greenbacks. We have seen the disastrous effects of inflation too often in other countries to risk such an eventuality here...
Streams of stars, which extend in spiral arms from three-fourths of the other galaxies (comparable to our Milky Way), have hitherto been considered ejections flung from the galactic center (see cut). But no, quite the contrary, announced Harlow Shapley. The galactic tentacles are really condensations, and four-fifths of a spiral galaxy's light comes not from its arms but from the background material out of which the arms have curdled...
...general sales tax; even President Roosevelt, long its foe, said: "We may later be compelled to reconsider the temporary necessity of such measures." A sales tax is "painless," can be fabulously productive. But Senator Vandenberg is not the only man who thinks it would also set off a new spiral of wage demands, price increases, inflation...
What would happen to the pocketbooks of the country if Morgenthau didn't take the money out in taxes is good material for a major nightmare. What purchasing power the people could keep would be undermined by a wage-price spiral; small business would be wiped out by the sky-rocketing of wholesale prices; and Washington alone would have enough lucre to make even the smallest investment...
...South wanted wage boosts up to the level of the Northern workers. The board granted a 7?-an-hour increase, reducing the differential. But in a statement which shot a bright ray of hope into the gloomy thoughts of economists, and reassured citizens who were worrying about an inflation spiral, the board declared: ". . . Workers . . . have no right to expect . . . wage increases during this war period which will enable them to keep day for day pace with upward changes in the cost of living...