It’s official: Inflation is soaring while the economy grinds to a halt.

As Business Insider put it, “The US economy may be barreling towards stagflation, an outcome worse than recession.” Last time they screwed up this bad we got years of double-digit unemployment *and* double-digit inflation. It only ended with a brutal Fed-engineered recession that cost Jimmy Carter the 1980 election. Will history repeat?

It's official: Inflation is soaring while the economy grinds to a halt.

As Business Insider put it, "The US economy may be barreling towards stagflation, an outcome worse than recession."

Last time they screwed up this bad we got years of double-digit unemployment *and*… pic.twitter.com/JrwfDi4qSL

— Peter St Onge, Ph.D. (@profstonge) April 30, 2024

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