The inflation that persisted throughout the 1970s didn’t seem to “be entrenched” either, once Jimmy Carter was kicked out of office and President Reagan’s team took over.
America is certainly “entrenched” though there Mr Brainless Biden bot, d-bag.
Inflation causes people to spend less, and travel less and enjoy life less. Companies will be less profitable and many will cut back and many will go out of business. We might all have to learn to live poorly.
Now, if governments at al levels would cut their spending at the same proportions that people do, perhaps inflation wouldn’t be so bad and we could probably get out of it sooner.
Jimmy Carter gave me a 13.5% mortgage interest rate in 1980. Looks like we are headed in that direction under BiteMe.
If Krugman says tmw will be warm and sunny, take a jacket and umbrella with you. This clown is wrong 95% of the time.
I knew it was that crank Krugman before I even read the article from the headline alone.
Krugman has soiled himself so many times in public, it ain’t funny.