Word: spiralling
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...plunged at an annual rate of 11.4%, the steepest drop in 30 years. Unemployment, which began soaring at the end of 1974, continued bounding up to a peak of 9.2% last May-the highest since before Pearl Harbor. Fear spread that the nation might have started on a downward spiral into depression...
...bigger threat is the possibility of a new wage-price spiral. Only 2.5 million workers were covered by contracts that expired in 1975, but 4.4 million will have major contracts coming up next year, including negotiations in four major industries: autos, trucking, electrical equipment and rubber. Workers' purchasing power has eroded over the past two years because wage boosts have not kept pace with price hikes. Between January 1973 and July 1975, the consumer price index rose 27.1%, but average hourly earnings of workers in nonagricultural jobs increased only...
...week the Teamsters Union was talking about demanding as much as a 50% increase for truckers over three years. Mechanics struck United Air Lines; the line canceled all flights through Christmas Eve. Other members of the Board of Economists, while granting that there is danger of a wage-price spiral, think it can be avoided. Some reasons: unemployment will still be high next year; low increases for state, local and Federal Government workers will exert a moderating influence on industrial wages; and rising productivity will enable manufacturers to pay higher wages without boosting prices...
Beyond that, uranium prices have more than tripled, from $7 per lb. in 1973 to $25 per lb. today; uranium delivered in 1982 might cost about $43. The Federal Energy Administration has launched an investigation into possible causes of the price spiral, which is upsetting the best laid plans of the nuclear industry...
...engineers opted for a relatively simple turntable. A major innovation is the metal-coated record, which is covered with a spiral groove only 0.00018 in. wide-less than a tenth as thick as a human hair. In ordinary LPs, the groove encodes the sound; as the pickup needle runs over its "hills and dales," the needle is forced to vibrate at the same frequencies as the recorded sound. Translated into electrical pulses and amplified, the vibrations drive the loudspeaker. By contrast, RCA's SelectaVision does not depend on mechanical vibrations. The disc's groove serves only to guide...