Things are not looking good for the Biden administration. In this podcast I discuss the causes of the current inflation and whether the Democrats really want to get people back to work.
“A nation facing stagflation goes through high commodity prices, lessened purchasing power, poor GDP, business shutdowns, a decline in consumer spending, and escalation of unemployment brought out by corporate layoffs. The US went through stagflation in the 1970s. Many economists blame the Federal Reserve’s extravagant money supply and circulation for the economic debacle. The motive behind increasing cash flow was a strategy to improve labor market conditions. In addition to the policy, the US was hit with a sudden rise in oil prices. This was brought out by the Arab embargo to the US. Middle-eastern countries stopped supplying to the US. As a result, the 1970s US was suffering from inflation and recession at the same time.”https://www.wallstreetmojo.com/stagflation/