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The Ten Steps of Stagflation

The Ten Steps of Stagflation

by Kevin Hassett

Markets collapsed, and the media seemed dumbstruck when inflation ‘surprised’ on the upside. There should have been no reason for surprise, however. We are in a straightforward stagflationary spiral. Everything that is happening makes sense and is following a predictable historical pattern. But for those who have doubts, let’s dig deeper into the simple economics of the world we are living in.

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