Word: spiralling
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Ford and his advisers recognize, however, that they have a brutal problem: if the recession continues longer than now expected, they must choose the point at which the terrible costs of a continued downward spiral outweigh the benefits of tempering inflation and dictate some new stimulation (probably tax relief rather than more spending). But that point, in their view, has not come yet, and for a while longer, recession will continue to alter the lives and outlooks of millions of Americans...
...price stability makes some easing of policies urgent now." McCracken believes that "if we do not get some easing now, the recession will be unnecessarily deep, and we would court the risk of a belated, massive swing to ease later that would set us off on another inflationary spiral by 1976 or 1977." McCracken still wants "a stern budget line," but he also wants a substantial easing of monetary policy...
...left by a crotchety octogenarian to the ne'er-do-well son of his nurse-secretary-companion Julian Underwood. The dead man's daughter, Jenny Rastall, contests the will. Like a La Ronde involving money instead of sex, Snow's plot circles in an ever widening spiral until the whole of '70s English society seems ensnarled in the litigation...
Worse, there are signs that the downward spiral is reinforcing itself. As fewer sailings are scheduled, shippers turn to other means-truck or rail-to move cargoes, and sailings decline even more. What happened? Like the rest of the economy, Great Lakes shipping is suffering from inflation, especially in the cost of fuel to power ships. Bad labor relations also have plagued Chicago docks. "The I.L.A.," fumes Bechtold, "will not work in the rain. If they look at a puddle and see a bubble, they will walk off the ship...
...commodities markets are so notoriously volatile that no one can guarantee against a reversal of the reversal that would send prices up again. But most economists think that the recent drop is no fluke. Thus, the downturn should allay widespread fears that the roaring commodity-price spiral of the past two years was a symptom of a global inflationary fever that might never break...