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Stayin’ Alive in the New ’70s
People who believe that history repeats itself are asking themselves: Is this a rerun of the ’30s…or a replay of the ’70s. Is it a deflationary recession we’re rehearsing? Or an inflationary recession? How is this story going to turn out?
We look around. We don’t see any breadlines…and people aren’t dressed nearly as well as they were in the ’30s. But now people get their free food through plastic “Independence” cards…proving that they are 100% dependent on the taxpayer for their daily bread. And as for dress…what do we know? If people like wearing flip-flops, pedal pushers, and shirts with…
27Jun2008 | Daily Reckoning | Comments Off | ContinuedHow to Survive Stagflation – With a Profit in Your Pocket
Increasingly in recent weeks commentators have begun speculating about the dreaded “S-wordâ€- stagflation- and whether or not such a protracted period featuring both high prices and high unemployment would blight the U.S. economy.
The stagflation debate arose anew on Friday when a worse-than-expected employment report and a record single-day surge in crude oil prices made economists once again consider the possibility that the U.S. economy could drop into a recession even as inflationary pressures spiraled higher.
For economists, this is viewed as the ultimate “worst-case†scenario. The probability is probably low. Nevertheless, it’s a real-enough possibility that investors should prepare for…
10Jun2008 | Money Morning | 1 comment | Continued
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