I'm reading a letter that Ba Jin wrote in the 80s to a group of students, and there are a few places in the letter that he uses what appears to be a phrase '形势大好' that meant something specific to the context of the times. Here's a usage of it in context:
我常常想，我们生活在其中的社会有时会是十分古怪，叫人难以理解。人们喜欢说，形势大 好，我也这样说过。这种说法不是没有道理，我也有自己的经验：根据我耳闻目睹，舍身救 人、一心为公的英雄事迹和一人有难、八方支援的好人好事，每天都在远近发生。
I think the literal translation "excellent situation" is missing something. So is there a better way of understanding it?