Peter Schiff: The Not So Secret Word is Stagflation

The economic narrative has been dominated by words like “inflation,” “interest rates,” and “recession.” But a more ominous term is starting to creep into the discussions of economists and financial analysts: Stagflation. While it might sound like something out of an economics textbook, stagflation is a very real and potentially painful economic condition, and understanding it is crucial for navigating the coming months. The most infamous example of stagflation occurred in the 1970s, largely fueled by rising oil prices. High inflation eroded purchasing power, while unemployment soared. It was a difficult period, and tackling it required a wrenching combination of tight monetary…