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Reply #4: Welcome To Stagflation... [View All]

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KharmaTrain Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jun-07-08 06:52 AM
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4. Welcome To Stagflation...
Hang on to your hats, this ride could make the late 70's seem like a bump in the road. Not only are incomes declining, jobs being lost...but there's no end in sight. If anything a chain reaction has set in that every wave of bad economic news this cycle speeds up...any jump in the price of oil, more foreclosures, a dip in the market and so on. The result in a combination of rising prices and stagnating incomes...known as Stagflation...and those of us who survived the late 70's and early 80's can tell you how difficult this situation is...especially for those just trying to keep afloat. There ends up more and more month at the end of each paycheck and this hurt the economy as spending on consumer and luxuary items all be vanish thus forcing even more people out of work and stressing the economy further.

The other day I read where the airlines will now start cutting back flights in addition to raising fares. This will all but destroy whatever summer travel. High Diesel prices will mount as goods cost more to both manufacture and distribute...and with those higher prices, sales will fall, more people will be laid off...the cycle is a hard one to break.

And this lame duck regime won't lift a finger to do a thing. They're just looking at their exit...the rest of us can go pound sand. If anything, I wouldn't be surprised if this regime feels this is just retribution for the low approval ratings and greater scrutiny. Look at how the lame congressional repugnicans already are blaming all problems on Democrats...many in that coven believe its in their best interests to see this country go down the tubes...and that they can make a few bucks on the way down.
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