The coming economic slump
Bob Morris @ Nov 18th 2007 00:24 - Category: Credit crisis
The Economist mentions the “R” word while a noted economist says the landing will be hard, not soft.
If you have financial hatches that can be battened down, I suggest you do so now.
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DJ on 18 Nov 2007 at 12:49 am #
It’s even worse than they want to admit– because while everyone is focused on the stagnating economy, inflation is also rising. DOL reports .3% increase in prices for Sept AND Oct. That’s 3.6% annualized. So far. While the Fed tries to stimulate the economy, the dollar plunges and prices rise.
Inflation is pretty much inevitable after a government borrowing binge– and we’re in the midst of the worst debt binge our country has ever seen.
So fasten your seat belts, because we’re in for something we haven’t seen since the early 1970s: stagflation. It’s going to be a bumpy ride.