El Club De Los Físicos MuertosMainly coz Roubini is right
bout #stagflation
OPEC embargo lasted a few months but PriceOfOil never went down again:
shortages and rising prices uS$ 3 to uS$ 13 a barrel in one or two years
Add 60's inflation in US,
#Vietnam war military spending and low productivity
Main problem is when people are blind with #maths of a theory but dispenses reason
If there is unemployment and wages fall,it was thought that consumer prices should fall NOT TRUE and #PhillipsCurve is covered in dust of history.
bout #stagflation
OPEC embargo lasted a few months but PriceOfOil never went down again:
shortages and rising prices uS$ 3 to uS$ 13 a barrel in one or two years
Add 60's inflation in US,
#Vietnam war military spending and low productivity
Main problem is when people are blind with #maths of a theory but dispenses reason
If there is unemployment and wages fall,it was thought that consumer prices should fall NOT TRUE and #PhillipsCurve is covered in dust of history.
