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Stockman Warns This Is Not Your Grandfather's Stagflation
Stockman Warns This Is Not Your Grandfather's Stagflation
Authored by David Stockman via The Brownstone Institute,
It was pretty obvious even before February 28th that the US economy was grinding to a halt, even as inflation was already working up a head of steam. But then came war.
We are going to get a globe-shaking economic conflagration erupting from the void that was the Persian Gulf commodity fountain. That includes between 20% and 50% of all the basic commodities that drive global GDP, including crude oil, LPGs, LNG, ammonia, urea, sulfur, helium,...
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