With Russia now invading Ukraine and adding to the already highly disrupted supply chains linking products and nations, and the price fixers in OPEC and OPEC+ having a picnic on the uncertainty, inflationary pressures will continue to rise for the time being. Many commentators keep falling into the trap of saying that history is repeating itself – meaning that it is the 1970s over again. I maintain my position that this is not akin to what was going on in the 1970s although there are similarities – energy price rises accompanying war, etc. And if we make the same mistakes that were made in the 1970s now, then not only will the inflation persist but millions of workers will lose their jobs and their incomes.Bill Mitchell – billy blog
We are not going back to the 1970s
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
http://bilbo.economicoutlook.net/blog/?p=49409
5 comments:
The 70s... the era of old economy Steve... when the only requirement for a job was having a pulse.
The Very Best of the Old Economy Steven Meme
Matt, check out #3.
The 70s... Happy Days, M.A.S.H., All in the Family, MaryTM -- some of the best tv programs ever
Me, I always check out coffee aisle at Costco. Best deals anywhere. Unfortunately not as wide a selection as in the US stores but better than the supermarkets.
And never buy coffee (or food for that matter) on Amazon and the like unless you know the seller. Usually take stuff they push legit.
Fake, not take
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