Anyone else remember the Jimmy Carter days?
Anyone who lived them can scarcely forget them. I was coming out of college to face double-digit unemployment, double-digit inflation, and expensive gas that you could only purchase on alternate days. The pain will be widespread, and young adults are in for a rude awakening. They haven't experienced anything like this, and many are already struggling with the high cost of housing and debt. Some will benefit by inflation when they re-pay school loans, but it will bite them in the backside in other ways. If we only hit 8% inflation, I'll be surprised.