Wednesday, March 16, 2011


Those of you who are of a certain age may remember the term "stagflation."
That was a particularly nasty moment in American history when the economy hit a wall and flatlined, but prices kept going up.
We may have met its evil twin: "stagcession"
This is where the economy hums along, inflation percolates, but ain't no Americans earning a decent wage because the money is all being funneled into places no one can get to it.