Economics & The Economy
Stagflation is the Hot New Economic Buzzword
But What Does It Mean?
I was scrolling through TikTok the other day and stumbled upon a video of a lady talking about stagflation.
The word instantly popped out and caught my attention.
One, because I had never heard the term before. And two, because it made me curious to know what stagflation was.
So, I did a little digging, researched what it meant, and figured I’d write about it.
By the time you’re done reading, you should have a solid understanding of what it is, the toxic economic conditions it presents, and how you can guard your personal finances against it.
With that said, let’s dive in.
Stagflation in a nutshell
Most people know what inflation is.
It’s when the prices of goods and services rise. Basically, when an economy is experiencing high inflation, your purchasing power is decimated.
Now, stagflation is entering the American economic lexicon once again.
It seems to be the hot new buzzword that news outlets are throwing around these days. And it’s an economic phrase that defined 1970s America.
