Dark skies and choppy waters are in the forecast, but whether we’re facing a “once\u002Din\u002Da\u002Dgeneration” problem isn’t so certain.
On the fashion side, the 1970s has a wide array of retro offerings, like tie-dye and bell-bottom jeans.
So are those dark clouds on the horizon or are we getting ahead of ourselves? Economists aren’t sure — but they do agree that a return of stagflation would be just as welcome as a resurgence of Jell-O salads.by British politician Iain Macleod in 1965, when he declared that Britain was facing “the best of both worlds” in reference to inflation and stagnation.Article content
And as spring rolled on, more observers raised red flags. In early June, the World Bank dramatically downgraded its projections for the global economy, citing concerns aboutThis advertisement has not loaded yet, but your article continues below.In its report, the agency also issued its projections for 2023 and 2024 — predicting that a series of oil shocks will increase the possibility of stagflation “reminiscent of the 1970s.
“There’s where we get into a stagflation type of situation,” says Chaundy. “But into next year, I think a slowdown is certainly in the cards. And that’s partly what the bank is trying to engineer.”Article content
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