Jimbo

Forget the 1930s; We're Reliving 1975 (Part II)

It appears to me that we now have stagnant, or even declining wages, marked unemployment, low industrial activity, at the same time we are having increases in the price of certain types of food, increases in electricity, increases in "fees" and taxes by state and local governments who have had a severe decline in revenues. The average household cannot consume as in the past due to lowered income and higher costs for relatively critical goods and services. This would seem to meet the criteria for STAGFLATION.