Word: spiralling
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Dates: during 1980-1989
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...like "Peace With Honor," Richard Nixon's favorite wartime catchphrase. And, indeed, it may soon be wartime again. Reagan escalates aid to Duarte's regime, the Soviets increase aid to the guerrillas. There is no point in wondering who started the process; it is only worth questioning when the spiral is going to stop...
...current demands-though he insisted authorities would not bow to an "ultimatum" from the workers. In spite of the week's bluster and turbulence, therefore, there still appeared to be some small chance for compromise-a chance neither side could afford to lose. The alternative was a mounting spiral of confrontation that could ultimately tempt the Soviets, who have 55 divisions still poised within striking distance of Poland, to impose their own brand of order on the country's bold experiment. -By Thomas A. Sancton...
...originally seemed relatively benign: a pay raise for the country's 65,000 teachers, approved earlier by a blue-ribbon committee. In the Cabinet, however, the salary question provoked a collision between two stubborn antagonists: Finance Minister Yigal Hurvitz, who was determined to forestall any new wage spiral that would further boost the country's 140% hyperinflation, and Education Minister Zevulun Hammer, who felt equally committed to the teachers. Each vowed to resign if he lost the battle, taking precious parliamentary votes with him. Thus either way Begin's coalition would be left without a majority...
...incentive of individuals and companies to work harder producing goods and services. Board Member Greenspan, a close adviser to President-elect Reagan, argued that the program must be put in place quickly if the public is to believe that the new Administration is really serious about stopping the price spiral...
...price of fuel continued to spiral upward in the mid-1970s and drilling technology became more sophisticated, the cost of pumping those reserves suddenly became competitive. The rush was on, with Amoco and Chevron the first major companies to leap in. Today, in 16 fields with more than 100 wells, each costing up to $25 million to build (five times the price in Texas), production has reached 30,000 bbl. of oil and 75 million cu. ft. of gas per day. Geologist Richard Powers estimates that as much as 15.5 billion bbl. of oil and 62.5 trillion...