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That ’70s Look: Stagflation - New York Times
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This Link is located in the Public Channel Housing Bubble and Bear Links. Posted by ian 272 days ago (www.nytimes.com). Views: 450 Tags: housing bubble |
| Related Tags: wall street credit crisis economics countrywide banks peter schiff gold |
Lately, many people are hearing an echo — faintly perhaps but distinctly audible — of the stagflation of the 1970s.
Even as economic growth sags, oil and gasoline prices are surging to new heights. Gold is on the rise, along with the prices of such basic commodities as wheat and steel. And on Wednesday, with the latest government report on consumer prices, there are signs that overall inflation, after years of only modest increases, may be breaking out of its box.
For the Federal Reserve and its chairman, Ben S. Bernanke, all this could not come at a worse time. With the credit markets in disarray from the collapse of the housing bubble, Mr. Bernanke is cutting rates in a headlong rush to blunt the risks of recession.
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ian said |
| 272 days ago |
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