To those of us who lived through the '70s, you will remember that the term "stagflation" was coined to describe years of high inflation and stagnation in the business/job world.
Be aware! The government has just done what the government did back then, but in spades. This is what is happening now: The government has increased spending and has borrowed by the trillions of dollars. A trillion is a thousand billion and a billion is a thousand million. Forcasted debt is now about $10 trillion. Try to get your head around that figure. There is not that amount of free capital in the world to pay for that. The government is issuing bonds that nobody is buying, so they are printing dollars to buy the bonds from ourselves. This is dropping the value of the dollar to piss status. Did you wonder why prices are on the rise lately? Especially oil?
This is uncharted territory. Nobody in the world has ever taken this calamity unto themselves with the possible exception of Zimbabwe. We are already on the edge and hanging by our fingernails. Companies will not expand in this economic climate and will likely contract. They will, therefore, generally not be hiring. The hyperinflation tide will hit like a wave, first ramping up slowly and then follow the bell curve to destructive heights. We will be powerless to stop it at that point.
Keep your eyes open and watch what is happening. Start worrying.
