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Get your bell bottoms on because stagflation might be back
The 1970s, the decade of bell bottom trousers, prawn coctails, disco, Lynda Carter & stagflation!
http://www.bbc.co.uk/news/business-14540818
Okay the official inflation rate isn't nearly as bad as it was in the 1970s. Thing is being as there's hardly any growth in the economy & therefore wages aren't going up as nearly as much as the rate of inflation & therefore it does feel as if it is a return to the 1970s. the spirally level of debt here in the 1970s & wages not keeping pace, led to an awful of industrial wage disputes, which scared investment away & the recent riots whatever the cause are likely to do the same.
Milton Friedman where are you when we need you.
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Yeah, this is going to be fun.
But what can you do about stagflation? That's what the man is thinking, there is nothing you can do about it. So the man will proceed with his misguided plan. But the man, as usual, is wrong.
Where there are problems, there are opportunities. When people are out of work, they may be more open to ideas, be they theoretical or practicle.
The new unemployment numbers are out and they show that "officially" it's at 9.1% (that's more like 17% in real terms). Let's hope that people have been smart and gotten some gold or silver to trade, because this is only the beginning. When those super-high price increases arrive... Big trouble.
Umemployment is up
Inflation is up
Average incomes are falling
Growth is stagnating
Nick Clegg said today the economic recovery was going to be tougher then first anticipated
All I have to say to Nick Clegg is NO SH**T!
http://www.youtube.com/watch?v=BKAYGVIkbok
You sing it Eric