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Stagflation

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CALIFORNIA | LOCAL
August 13, 1990
Kuttner's analysis of stagflation as the price of Reaganomics was excellent. However, I take exception to his closing statement that the greatest triumph of "capitalism" is the collapse of world communism and the end of the Cold War. Probably it is more true that communism is collapsing because of its unworkable ways. Ultimately, it has been pointed out, many small "hot" wars are likely to ensue in Eastern Europe and elsewhere around the world. Finally we should not gloat about capitalism, as its huge unregulated multinational corporations, acting as countries unto themselves, are wreaking havoc on natural resources and the environment, as wisely pointed out in your Opinion section in the interview with Martin Khor ("Fighting to Save Rain Forests and the World Environment," July 29)
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BUSINESS
June 16, 2011 | By Jim Puzzanghera and Don Lee, Los Angeles Times
Higher prices seeped from the gas pump into the broader U.S. economy in May, adding new hurdles for the sluggish recovery and the government's options for boosting it. The combination of a stagnant economy and rising inflation led some economists to worry that the country might be headed toward a repeat of the 1970s phenomenon of stagflation, which hobbled growth for years. Wednesday's Labor Department report rattled financial markets already spooked by the worsening debt situation in Greece and raised the specter that the Federal Reserve might have to raise interest rates sooner than expected to blunt inflation pressures.
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BUSINESS
August 24, 1997
So the future of economics is riding on futurists ("Futurists: The Economists of the Future?" Times Board of Advisors/Judy B. Rosener, Aug. 17)? Once again economists find themselves in a quandary. How does one explain consistent growth with no increase in inflation? It is a question even Alan Greenspan cannot answer. So who do we turn to when the economist does not have the answers? It appears our sci-fi-driven society will turn to a futurist. The history of economics is filled with theories tested through trial and error in an effort to not only explain the economy, but guide it. Keynes stepped up to solve the mystery of how to fix a depression and get the economy moving again.
OPINION
March 19, 2008
Re "War's price tag," Opinion, March 16 Linda J. Bilmes and Joseph E. Stiglitz didn't mention one significant effect of the Iraq war on Californians (and all Americans): the plummeting value of the U.S. dollar. The cost to consumers of oil and other imported goods and services is skyrocketing largely because of the huge budget deficits that are substantially caused by the spending on the Iraq war, and the consequent loss of confidence in America's financial stability by the rest of the world.
BUSINESS
April 10, 1988
I continue to be amazed at those who write about the economy while sitting back with blinders on. How can James Flanigan write so much about the mess the next President will inherit without mentioning the Organization of Petroleum Exporting Countries? I would like to pose a question for him: What would the cost of living today be if gasoline were selling at the $2 (or more) a gallon anticipated in the stagflation days of 1982? President Reagan can thank his predecessors for much of his Teflon.
OPINION
March 19, 2008
Re "War's price tag," Opinion, March 16 Linda J. Bilmes and Joseph E. Stiglitz didn't mention one significant effect of the Iraq war on Californians (and all Americans): the plummeting value of the U.S. dollar. The cost to consumers of oil and other imported goods and services is skyrocketing largely because of the huge budget deficits that are substantially caused by the spending on the Iraq war, and the consequent loss of confidence in America's financial stability by the rest of the world.
NEWS
August 4, 1990 | JONATHAN PETERSON, TIMES STAFF WRITER
Iraq's seizure of Kuwait's oil facilities has revived an economic specter that vanished with the gas lines of the 1970s: stagflation, a U.S. economy squeezed between rising consumer prices and sinking business activity. As was the case with the 1973-74 Middle East oil crisis, oil prices now threaten to push up inflation at a time of growing unemployment and economic sluggishness.
BUSINESS
April 29, 2001 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
If the 1970s are considered something of a cultural wasteland, the economic record is even uglier. The decade of Nixon, Ford and Carter spawned one of the most reviled economic terms: stagflation. Twice in the span of 10 years, the United States experienced a loathsome combination of high inflation in a stagnant, or declining, economy. The year-over-year inflation rate peaked at 12.2% in 1974, fell back for two years, then resurged to 13.3% by 1979.
BUSINESS
June 16, 2011 | By Jim Puzzanghera and Don Lee, Los Angeles Times
Higher prices seeped from the gas pump into the broader U.S. economy in May, adding new hurdles for the sluggish recovery and the government's options for boosting it. The combination of a stagnant economy and rising inflation led some economists to worry that the country might be headed toward a repeat of the 1970s phenomenon of stagflation, which hobbled growth for years. Wednesday's Labor Department report rattled financial markets already spooked by the worsening debt situation in Greece and raised the specter that the Federal Reserve might have to raise interest rates sooner than expected to blunt inflation pressures.
BUSINESS
June 15, 2006 | Lisa Girion, Times Staff Writer
With inflation heating up amid the prospect of another interest rate hike from the Federal Reserve, some economists said Wednesday they were beginning to worry about a ghost from the past: stagflation. Their concern over the dreaded affliction of rising prices in a languishing economy -- last seen in the 1970s -- follows a second day of bad inflation news. The consumer price index, the prices consumers pay for goods and services, rose 0.
BUSINESS
June 15, 2006 | Lisa Girion, Times Staff Writer
With inflation heating up amid the prospect of another interest rate hike from the Federal Reserve, some economists said Wednesday they were beginning to worry about a ghost from the past: stagflation. Their concern over the dreaded affliction of rising prices in a languishing economy -- last seen in the 1970s -- follows a second day of bad inflation news. The consumer price index, the prices consumers pay for goods and services, rose 0.
BUSINESS
April 22, 2005 | Jonathan Peterson, Times Staff Writer
Federal Reserve Chairman Alan Greenspan tried Thursday to allay fears that the economy faces a one-two punch of surging inflation and stagnant growth, although he warned that record federal budget deficits remain a serious long-term threat. Economic "activity appears to be expanding at a reasonably good pace,'' Greenspan told the Senate Budget Committee.
BUSINESS
April 29, 2001 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
If the 1970s are considered something of a cultural wasteland, the economic record is even uglier. The decade of Nixon, Ford and Carter spawned one of the most reviled economic terms: stagflation. Twice in the span of 10 years, the United States experienced a loathsome combination of high inflation in a stagnant, or declining, economy. The year-over-year inflation rate peaked at 12.2% in 1974, fell back for two years, then resurged to 13.3% by 1979.
NEWS
September 6, 1998 | JOHN DANISZEWSKI, TIMES STAFF WRITER
At Mahdi Vosochi's garage in the heart of Tehran, festooned with pictures of American and European sports cars, the men in greasy overalls have more on their minds than engines and transmissions. These days, the talk often turns to politics--and whether President Mohammad Khatami will prevail in his struggle against conservatives and succeed in bringing more freedom to their country.
BUSINESS
August 24, 1997
So the future of economics is riding on futurists ("Futurists: The Economists of the Future?" Times Board of Advisors/Judy B. Rosener, Aug. 17)? Once again economists find themselves in a quandary. How does one explain consistent growth with no increase in inflation? It is a question even Alan Greenspan cannot answer. So who do we turn to when the economist does not have the answers? It appears our sci-fi-driven society will turn to a futurist. The history of economics is filled with theories tested through trial and error in an effort to not only explain the economy, but guide it. Keynes stepped up to solve the mystery of how to fix a depression and get the economy moving again.
BUSINESS
October 27, 1995 | From Times Wire Services
A sudden speculative attack hit the Mexican currency Thursday, sending traders into a frenzy and knocking the peso down more than 6% to its lowest level in seven months in a selloff prompted by bad financial news and political tensions. "There is no support for the peso right now; this is sheer panic," a harried currency dealer said. Investor anxiety over the currency's erosion also sent tremors through the stock market, where prices fell sharply and pulled down the key Mexican Bolsa index by 3.
BUSINESS
April 22, 2005 | Jonathan Peterson, Times Staff Writer
Federal Reserve Chairman Alan Greenspan tried Thursday to allay fears that the economy faces a one-two punch of surging inflation and stagnant growth, although he warned that record federal budget deficits remain a serious long-term threat. Economic "activity appears to be expanding at a reasonably good pace,'' Greenspan told the Senate Budget Committee.
NEWS
March 16, 1993 | WILLIAM R. LONG, TIMES STAFF WRITER
When President Itamar Franco came to power in October after the impeachment of Fernando Collor de Mello, Brazilians hoped that the government would start coming to grips with Brazil's pressing economic problems. Those hopes are fading as Franco fails to organize a convincing offensive against a painful recession and inflation of more than 1,000% a year. Two Franco finance ministers have struck out so far, and expectations are gloomy for a third one now at bat.
BUSINESS
December 15, 1990 | OSWALD JOHNSTON, TIMES STAFF WRITER
In what one analyst called "a double dose of deadly news," the government reported Friday that industrial production plunged 1.7% in November while wholesale prices went up 0.5%. The drop in industrial production was the worst since the depths of the 1982 recession. Cuts by auto manufacturers accounted for about half the drop, but every major factory sector recorded some decline. The increase in November wholesale prices came despite a sharp drop in oil prices compared to previous months.
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