Excellent essay. For those of us old enough to remember the 70s, the term “stagflation” comes to mind.
posted on 03/18/2008 9:39:39 PM PDT
I think of the 70's using the words of humor columnist Dave Barry:
"lodged in the esophagus of my mind".
Recall that Doonesbury, that liberal staple of the 70's, had a character during that time fondly refer to his "mellow mortgage" (10% interest rate, but the house appreciated by 10% a year). I don't see that happening this time around.
posted on 03/18/2008 9:43:48 PM PDT
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