Actually, inflation is just going to get worse especially when it comes to food. I am building up a three months supply stockpile of long lasting foods and building a garden. I am still trying to find out if my city and HOA will allow me to have chickens for fresh eggs.
Better to buy now then when prices go up another 30%.
Current inflation compared to the 1970s:
If 1970s are any indicArion we probably have at least 10 more years of this.
Remember, they have vastly changed how things are calculated in order for inflation to appear smaller so that politicians look better. Calculated the same way we did back in the 1970's inflation is currently much higher and getting worse. Whole sale prices were up an average of 11% just in april.
But I think you could almost superimpose a graph from the 1970s onto one for the 2020s and it would be eerily similar.
ie - the Afghan War that ended was like Vietnam in the 70s.
Similar drag on the American economy.
Then we have the invasion of Ukraine which rocked Europe with an oil shock very smilarl to the 1973 Yom Kippur War with Israel and the Arab League.
Russia has kinda pulled the same stunt as the OPEC oil embargo did 49 years ago.
So in a way - we're sort of at the '1973 stage already'...one year ahead of schedule.
If I recall , 1974-75 were kinda shitty for the US, then there was the end of the Vietnam War. There was a double dip recession around that time as well. Which may point to a recession in the USA and the West in the near future, perhaps the next year or 2.
Stock Market went sideways, but it was a poor market for the remainder of that decade.
But commodities soared. Just like they are now.
soil stuff like oil, metal, coffee, certain foods are soaring in price.\
Thee was double digit inflation and double digit interest rates.
But things like savings bonds and treasuries had high yields.
Real Estate too. But I suspect just like in the 1970s, that will become over leveraged, foreclosures will become common again and more people will walk away from the mortgages selling them to somebody who's willing to buy them up for $1.
That's what I remember happened.
1979 was the peak of that decade, and it went steadily downhill till a recession arrived in 1981 and the much of the 80s was rather grim economically.
Joe Biden is like the Jimmy Carter of our time.
all probability 1 term President who comes into office at a challenging time.
However unlike Carter, in Biden's case I think there is a good chance , that he will notrun again for a 2nd term.