It’s The Economy, Stupid (AKA Economists)
The result was the crisis of the 1970s, when inflation reached double digits, unemployment surged, and interest rates were astronomical.
George Friedman • The Storm Before the Calm: America's Discord, the Coming Crisis of the 2020s, and the Triumph Beyond
But here’s the problem: If global energy prices don’t come down and global supply chains remain tangled by Omicron variants and other natural disasters, we might end up with the worst of both worlds: destroyed domestic demand and constricted global supply. Slow growth and high energy prices could mean the return of the dreaded stagflation.
The Atlantic • America’s Most Important Economic Storyteller Is Confused
Two-thirds believe their children will end up “financially worse off” than they are. (If compared to similarly worded questions asked in prior decades, this negativity has reached a postwar high.)
Neil Howe • The Fourth Turning Is Here: What the Seasons of History Tell Us about How and When This Crisis Will End
Advanced economies have no divine right to grow at Great Moderation rates: Japan’s, which grew at 5 percent annually during the 1980s, has grown by barely one percent per year since then.43 This may be one reason why forecasters and policy makers were taken so much by surprise by the depth of the 2007 recession. Not only were they failing to accoun
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