What does "financial tailspin" mean?
If one were in a financial tailspin, then it means they're in financial trouble... which is getting worse. Imagine an airplane in a tailspin.. it is spiraling downwards towards the ground.. in serious trouble. You get the idea.
This usually refers to a financial situation which is getter progressively worse and nearly impossible to exit. As in the airplane example, the longer you spiral downwards, the faster you go. The faster you go, the worse the situation.
Financially out of control.
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