Nothing like that; we have seen this all before, it is called the Seventies. Later part of Nixon, then Ford & Carter administrations. Similar things will happen – a decade or more of stagflation. However, I don’t see how the Seventies will turn into the Eighties (even if there is a new Reagan) since we will be hit hard with the retirement of boomers for the next two decades. My prediction: Two Lost Decades.
