a vicious spiral of rising prices under full employment&b{William Henry Beveridge)
The risks of a vicious spiral from bad fundamentals to policy mistakes, a panic and back to bad fundamentals are large, with further economic contraction ahead.
Fans of the new rules argue that mark-to-market accounting forced Banks into a vicious spiral of forced sales and more losses.
Price rises change expectations of inflation, leading workers to bid for wage increases that preserve their buying power and firms to push through price increases, generating a vicious spiral.
