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What are dire straits?

What are dire straits? Here are some definitions.

Noun
  1. A difficult position
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Examples
Much of the money at the moment is poured into the primary sector in health, leaving the secondary sector in dire straits.
If the U.S. pushes too hard, Japan can threaten to repatriate the assets, leaving the U.S. economy in dire straits.
That leaves county schools in dire straits, with many already having to unravel established teaching practices.
He added that City had been in dire straits several times before and had always managed to scrape their way clear.
Even with unwavering support from communities, most clubs are in dire straits.
Folk were in dire straits and because it was my home territory, I understood.

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