So far the US economy is doing pretty well; certainly compared to the stagflation seventies and eighties. (Mortgage rates hit 14 to 16 percent in the mid 70’s, for example, and when I took over house payments as my home rent the mortgage rate was about 6 percent on a mortgage executed in 1967; the rate today is still less than that, although housing is much more expensive.) The impact of Putin’s war on the world’s other countries, and the friction between the US and China, along with the other energy and supply upheavals may change that though.
So far the US economy is doing pretty well; certainly compared to the stagflation seventies and eighties. (Mortgage rates hit 14 to 16 percent in the mid 70’s, for example, and when I took over house payments as my home rent the mortgage rate was about 6 percent on a mortgage executed in 1967; the rate today is still less than that, although housing is much more expensive.) The impact of Putin’s war on the world’s other countries, and the friction between the US and China, along with the other energy and supply upheavals may change that though.