In today’s episode of the 24/7 Wall St. podcast Lee Jackson reflects on the economic challenges of the 1970s, drawing parallels to the present economic climate. The conversation touches on stagnant economic growth and persistent inflation during that era, suggesting similarities with current economic indicators and concerns.
TRANSCRIPT: So, Lee, do you remember something called that 70s show?
I sure do. I lived it and watched it.
Tell me what that was like.
I mean, what was it like economically to be part of that 70s show?
Well, I was a lot younger, obviously, but it was just this constant onslaught, part of which was driven by the intense spending.
Same problem we have now on the Vietnam War.
And then the economy hit a wall.
So what you had was you had a stagnant economy.
There’s the stag.
And then we had inflation all through the 70s that…
Gerald Ford said if we could win or whip inflation now, we’d be in great shape.
Problem is, we might be having a 70s show once again now.
Well, if you look at the GDP number, the stag part of this may actually happen in the next couple of quarters, and I can see how that would happen.
I do not see inflation coming down.
I don’t see any reason to think with crude where it is, a lot of foods where they are, insurance.
If you look at the consumer price index, one of the things that’s hammering it up is insurance.
I don’t see those things changing.
Do you?
I don’t.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
