PS I think we're headed for stagflation...and then years later, deflation.
" PS I think we're headed for stagflation...and then years later, deflation. "
I'm not sure we can survive "stagflation" -- the economy, as it is now, is shored up by people spending money they don't have -- ie borrowed money. (Which doesn't exist -- a substantial part of 'modern' wealth is on paper only. Complicated by the fact that we've somehow lost track of the knowledge that "price" and "value" are *not* synonymous..)
Which works as long as things chug along just well enough that they can make their payments (mostly mortgage and consumer credit)....
Somebody (well, other than us) will eventually notice the emperor's lack of clothes, and then it all comes tumbling down....