efficentupup wrote a post · Jun 8, 2022 03:34

World Bank warns global economy may suffer 1970s-style stagflation.

The global economy may be headed for years of weak growth and rising prices, a toxic combination that will test the stability of dozens of countries still struggling to rebound from the pandemic, the World Bank warned Tuesday.

Not since the 1970s — when twin oil shocks sapped growth and lifted prices, giving rise to the malady known as “stagflation” — has the global economy faced such a challenge.

Is the risk of further deterioration increasing? Yep. Everyone went from its transitory to “oh well, fuck it “ real quick

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