We old timers remember the Carter years.
The way people did it back then was they just cut back and downgraded in thousands of different ways—since everybody has different needs and wants.
There are always things that can be cut in the household budget—chicken instead of steak, more pasta, staycations instead of travel, buying stuff at yard sales, less or no or lower cost restaurant dining etc.
That is how you get stagflation—the consumers start changing their spending behavior.
Have you seen the price of chicken (yeah...I’m an old timer)
I remember the Carter years too and the gas rationing. Yes, people cut back as we are now and it just affects the whole darn economy. Let’s go Brandon!