Friday, June 27, 2008
Interest Rates worked against inflation. Can it work against Stagflation this time around? Discuss
Here is an old documentary by Adam Curtis (of "Power of Nightmares" fame) talking about how technocrats, scientists and politicians tried to "make Britain great" again by growing the UK economy only for their efforts lead to Stagflation (and begging for money from the IMF in 1976 - so much for being Great Britain). If there is anything this video achieves, it is a SOBERING reminder of what Stagflation really means not just for house prices. Would appreciate comment.