Republicans Say Americans Are Willing to Suffer Higher Prices for Trump


Republicans Say Americans Are Willing to Suffer Higher Prices for Trump

When stagflation like the '70s and early '80s hits they might be singing a different tune. It's a nasty combination of high inflation, stagnant economic growth, and increased unemployment, and if you're old enough to have been working during that time you will remember it well, but not fondly. Remember 11% mortgage rates? The average rate was 16% in 1982. Soon afterward there was the farm crisis of the '80s, caused by high levels of farm debt from inflation and high interest rates. Exports fell, too; there was an embargo on the sale of crops to the USSR. Now we have tariffs and retaliatory tariffs and the destruction of USAID, which accounted for a lot of crop exports.

Give it time. The leopards can wait.

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