U.S. Stagflation Is A Triple-Whammy By Fed, Biden White House And Big Defense

Stagflation is no longer just a US recession threat, but global risk. It is the net effect of a triple-whammy that penalizes American welfare and global recovery. But it will not harm the profit margins of the defense contractors. Recently, President Biden admitted U.S. inflation was stuck at “unacceptably high” levels after the annual rate in April soared to 8.3%. He blamed the Covid-19 pandemic and Russian President Putin for U.S. price increases instead of his government spending. After four years of Trump devastation, the Biden administration had a historical opportunity to reset economic policies by nullifying the self-defeating trade…