From TGIF: Congress Is Back. Let the Insanity Begin by Nellie Bowles. The subheading is Kevin McCarthy needs more friends. Cardi B talks stagflation. Jordan Peterson resists re-education. And so much more.
The tells body you that you are aging sooner than the mind, but the mind tells you more subtly.
I read:
Amazon to lay off 18,000: There’s a new word I’m learning. The word is stagflation. It is, per Fortune, “when a stalling economy, high inflation, and rising unemployment all collide.” In other words: the toxic brew of inflation caused by the Biden administration’s endless, blind Covid stimulus mixed with American businesses not growing fast enough. The Sherwin-Williams color of the year might be Terra, but according to Bloomberg, “Stagflation Will Rule 2023.”
In other circumstances the reasonable conclusion would be derisive dismissal of a corporate press release journalist. A new word you are learning; stagflation? Really?
But Bowles is a competent journalist. So if she isn't a corporate journalist slug doing press-release journalism, how on earth does she not know this well-established and long used term?
Well, to be fair, my background is in economics and it certainly has circulation there which it would not among those differently focused. Perhaps thats it.
But then my cruel mind forces me to confront the harsh truth. I think to myself, when was the last time that we had stagflation? And it hits me. The Carter administration, 1976-80. Bowles wasn't even born then.
An economist would know about stagflation and anyone my age or older would know from experience. But that is a dwindling percentage of the population.
Or it was. Regrettably, it seems not unlikely that more people will now be re-introduced to that concept and experience.
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