Stagflation is coming. What is it, and why should we care? (Guest: Ron Paul and Brett Winterble)
Stagflation is dual suffering: Inflation plus high unemployment. Stagflation is a combination rarely seen in periods of high unemployment since people have less money to spend on goods and services. Therefore, prices are supposed to go down, not up. So, Stagflation is a little bit like bootstrapping and defying gravity. The last time we saw Stagflation was in the 1970s when inflation hit 13.3%, unemployment over 6%, and the Fed raised interest rates to 20% to slow … Read more
