Might not be a very pretty picture for many. From a recent article on the topic:
“Stagflation is when you have stagnation in growth rates along with inflation in your day-to-day life. So there is a double whammy with stagflation.
There is no growth in the environment, which means no jobs or no real jobs with real growth behind it. Added to that sad state is a heavy dose of inflation. So as your wages hold steady, if you even have a job, the costs of living in all areas around you go up. This will ensure that your standard of living declines as time goes by. This is the stuff social revolutions are made of.”
