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Stagflation Stages A Comeback ~ I & I Editorial Board

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mystery-ak:
Stagflation Stages A Comeback
I & I Editorial Board
May 2, 2024


Joe Biden got his start in politics in the 1970s and appears determined to recreate the world as it existed back then.

Misguided federal policies have pushed energy prices to punishingly high levels. Americans are struggling with inflation. Radical Muslims are holding American citizens hostage in the Middle East. Our adversaries, including Russia, are on the march. Even bell bottoms are making a comeback.

And, now, the pièce de résistance of the 1970s is also making a comeback: stagflation.

Stagflation. It’s a term that most young people and plenty of not-so-young people have probably never heard before because it’s been nearly 50 years since the U.S. suffered this leftist policy-induced madness. A combination of stagnant economic growth and high inflation.

It’s something that liberal Keynesian economists say can’t happen. Inflation, they say, is caused by a too-hot economy and a tight labor market. A sluggish economy should push prices down.

And yet stagflation did happen then, and appears to happening again, thanks to massive spending and growth-choking taxes and regulations imposed by the Biden administration.

 more
https://issuesinsights.com/2024/05/02/stagflation-makes-its-appearance-on-bidens-70s-show/

LMAO:
Pray hard that disco doesn’t make a comeback

Fishrrman:
The core of "stagflation" back then (1970's) was due to the oil embargo and the astounding jump in the price of fuel for both cars and commercial vehicles. The higher prices soared at every step of the production and distribution process.

That we have it again is almost for the same reason.
The difference is now the higher prices for energy throughout the economy are being forced upon us BY OUR OWN GOVERNMENT.

What did Mr. Jefferson say about governments that no longer serve the governed?

LMAO:
In the 1970’s, debt to GDP ration was under 40%

Today, it’s over 120% and rapidly increasing

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