In many ways 2019 is starting to look a lot like 1973
“The price of gasoline is rapidly rising, economic activity is slowing down, the Middle East appears to be on the brink of war, and Democrats are trying to find a way to remove a Republican president from office. In many ways, 2019 is starting to look a lot like 1973. For many Americans, the 1970s represent a rather depressing chapter in U.S. history that they would just like to forget, but the truth is that if we do not learn from history it is much more likely that we will repeat our mistakes. And without a doubt, right now a lot of things are starting to move in a very ominous direction.”
USAGOLD note: Opinions abound as to where this economy is headed and a repeat of the stagflationary 1970s ranks high among them. It is, in fact, the scenario former Fed chairman, Alan Greenspan, has been warning about for a couple of years now.
Repost from 4-25-2019