No. of Recommendations: 18
”What we have is some tension between the goals and we’re trying to manage our way through it. It’s a very difficult situation, but it’s nothing like what they faced in the 1970s and I reserve stagflation for that — the word — for that period. Maybe that’s just me.”
Fair enough Mr. Powell, fair enough.
Therefore I propose a new term for what we’re experiencing;
MAGAFLATION
MAGAFLATION [maa-guh-fley-shuhn] noun
1) Damage to the economy that occurs when an ignorant and incompetent person is elected and then places other ignorant and incompetent people as the heads of critical departments
2) Damage to the economy through unforced errors. AKA Own goal; shooting oneself in the foot; fire, ready, aim; being ignorant and incompetent.
3) Examples: imposing tariffs on a whim; starting wars on a “feeling” in an unstable region that controls lots of oil; adding to the debt in an unprecedented rate over a short period of time; giving tax breaks to billionaires; being ignorant and incompetent.
