Thursday, November 1, 2007

Can you say “stagflation”?

People my age and older remember this word from the Ford Administration. Now, with oil prices flirting with $95/bbl and likely ending further Federal Reserve interest rate cuts, and consumer confidence falling along with spending, while the housing-related credit crunch takes its toll, it may be time to break this word back out of cobwebs and bring it back into the lexicon.