Having graduated from college during the lovely Carter economy, this looks waaaayyyy too familiar. Double digit unemployment coupled with double digit inflation. Wringing out inflation involved tight monetary policy, with its high interest rates. High interest rates are good for those with money to lend, but really tough on the real estate and automotive markets. Then there's the question of how to service the national debt at higher interest rates . . . very painful.
I am very angry with our political class, our media, and our leftist 'elites' for what they've helped perpetrate upon our nation (and the world).
I remember the Carter days well it was really hard for young families but at least then the employment situation was not as dire. I think another big difference we will probably see this time is I doubt we will see interest rates rise to those levels for savers.