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.
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.
August 4, 1990 |
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.
April 29, 2001 |
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.
June 16, 2011 |
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.
June 15, 2006 |
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.