In many ways, 2019 is starting to look a lot like 1973. For many Americans, the 1970s represent a rather depressing chapter in U.S. history that they would just like to forget, but the truth is that if we do not learn from history it is much more likely that we will repeat our mistakes. And without a doubt, right now a lot of things are starting to move in a very ominous direction.
"Stagflation" was a term that was made popular in the 1970s, and it occurs when there is a high rate of inflation but economic growth is declining or stagnant.
The U.S. hasn't had a serious bout with stagflation in quite a while, but it appears that we may be moving in that direction.
Let's talk about the slowdown in the economy first. On Monday, we learned that sales of existing homes in the U.S. were way down in March…