Americans have special ways of talking about economic troubles. People in business or families may say they feel the pinch. Or they may say they are up against it. Or, if things are really bad, they may say they have to throw in the towel.
A pinch is painful pressure. To feel the pinch is to suffer painful pressure involving money. The expression, feel the pinch, has been used since the 16th century. The famous English writer William Shakespeare wrote something very close to this in his great play “King Lear.” King Lear says he would accept necessity’s sharp pinch. He means he would have to do without many of the things he always had. Much later, the Times of London newspaper used the expression about bad economic times during the 1860s. It said, “so much money having been spent... All classes felt the pinch.”
Worse than feeling the pinch is being up against it. The saying means to be in a lot of trouble. Word expert James Rogers says the word “it” in the saying can mean any and all difficulties. He says the saying became popular in the United States and Canada in the late 19th century. Writer George Ade used it in a book called “Artie.” He wrote, “I saw I was up against it.”
Sometimes a business that is up against it will have to throw in the towel. This means to accept defeat or surrender. Throwing in the towel may mean that a company will have to declare bankruptcy(破产). The company will have to take legal steps to let people know it has no money to pay its debts. Most businesses do not throw in the towel. They just re-organize so they can compete better.
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