Fox Business host Stuart Varney predicted stagflation and an economic disaster of the highest magnitude in decades on the March 22 edition of Varney & Co.
Varney said that the likelihood of inflation rising in the future will be high and could even lead to stagflation. “We haven’t felt it in a generation but it sure looks like it’s headed our way again,” Varney said.
Economic pains including spiking food prices, increased gas prices and burdensome electricity bills are currently exacerbating a serious problem that “everybody can see and feel,” according to Varney. Fox Business host Varney explained the political implications that stagflation has on the economy. It was the 1980s, when the U.S. suffered from stagflation.
It wasn’t long before “an angry electorate” booted President Jimmy Carter out of the White House in protest over long gas lines and stagflationary pains. Depending on how hot inflation runs in the coming months, we could experience something of a déjà vu moment this November.
“We’re already feeling stagflation in our wallets,” Varney said. “I think the politicians will feel it at the ballot box, and soon.”
Stagflation is “slow growth or ‘no’ growth, with rising prices,” Varney explained. “The economy will slow. That’s the ‘stag’ part of ‘stagflation’ — stagnant economy, rising prices.”
Stagflation would be even more dangerous than the record inflation already sapping Americans’ pocketbooks.
Most Americans seem to have begun to pay closer attention and reject liberal media’s attempts to exonerate President Joe Biden. Google searches for the term “stagflation” reached “peak popularity” between March 6 and March 12. Rasmussen Reports found that 64 percent believe the Biden policy has caused inflation to soar.
Peter Schiff, economist and founder of Euro Pacific Asset Management warned that America is heading towards stagflation or even hyperinflation on his radio broadcast on March 12.
He reasoned that the “inflation that we have just experienced in the prior twelve months is higher than any twelve-month period during the entirety of the 1970s.”
Schiff said that the inflationary fire can become an inferno if it is not controlled.
Conservatives are being attacked. Contact ABC News at (818) 460-7477, CBS News at (212) 975-3247 and NBC News at (212) 664-6192 and demand they report fairly on Biden’s inflation crisis.
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