We are all well aware of skyrocketing prices in America, which are a direct result of poor leadership by Joe Biden, and his weakness which has in turn led to Russia’s invasion of Ukraine and growing concerns of China doing the same in Taiwan.

And unfortunately, it would appear that things are not going to improve anytime soon.  In fact Fox Business’ Stu Varney says things are likely to accelerate and reach stagflation.

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Here is the transcript:

“Stagflation is not a happy subject. There are times when the economy gets into an intractable mess — slow growth or no growth with rising prices. That’s stagflation.
We haven’t felt it in a generation, but it looks like it is headed our way again. You are gonna hear a lot about this.
For the past year, inflation has gradually picked up steam. Now it is running hot at a 10% clip — and I think it gets worse.
Food price inflation will soon accelerate. Couple that with gas prices and electricity bills and everything else, and you have got an inflation problem everybody can see and feel.
Now, it’s the job of the Federal Reserve to fix that. They do this by raising interest rates. And that’s what they’re doing now.
The economy will slow. That’s the “stag” part of stagflation. Stagnant economy, rising prices. Stagflation.
Now, think of the implications of this.
The standard of living — especially for low-income people — goes down. Just about everybody loses ground.
Now, we saw stagflation in the 70s and very early 80s — 10% inflation, slowing economy, rate hikes then recession.
An angry electorate fired President Carter.
This time around, we are already feeling stagflation in our wallets.
I think the politicians will feel it at the ballot box – and soon.”

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This piece was written by Staff Writer on March 26, 2022. It originally appeared in DrewBerquist.com and is used by permission.

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