DO YOU REMEMBER THE OIL CRISIS AND “STAGFLATION” OF THE 1970S? IN MANY WAYS, 2019 IS STARTING TO LOOK A LOT LIKE 1973… | WHAT REALLY HAPPENED

DO YOU REMEMBER THE OIL CRISIS AND “STAGFLATION” OF THE 1970S? IN MANY WAYS, 2019 IS STARTING TO LOOK A LOT LIKE 1973…

SOURCE: THE ECONOMIC COLLAPSE

The price of gasoline is rapidly rising, economic activity is slowing down, the Middle East appears to be on the brink of war, and Democrats are trying to find a way to remove a Republican president from office. In many ways, 2019 is starting to look a lot like 1973. For many Americans, the 1970s represent a rather depressing chapter in U.S. history that they would just like to forget, but the truth is that if we do not learn from history it is much more likely that we will repeat our mistakes. And without a doubt, right now a lot of things are starting to move in a very ominous direction.

“Stagflation” was a term that was made popular in the 1970s, and it occurs when there is a high rate of inflation but economic growth is declining or stagnant.

The U.S. hasn’t had a serious bout with stagflation in quite a while, but it appears that we may be moving in that direction.

Let’s talk about the slowdown in the economy first. On Monday, we learned that sales of existing homes in the U.S. were way down in March…

Home sales are struggling to rebound after slumping in the second half of last year, when a jump in mortgage rates to nearly 5% discouraged many would-be buyers. Spring buying is so far running behind last year’s healthy gains: Sales were 5.4% below where they were a year earlier.

Webmaster's Commentary: 

I remember this, because I lived through it in Southern California, during the "odd/even" way of dispensing gas, which was by your car license plate tag number, if I remember correctly, and it was an absolute pain to live through.

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