The definition of stagflation is growth below its long-term trend and inflation above trend.
That’s what we got in the first quarter of 2022.
The economy did not just grow slowly. It contracted on an annualized basis. Imports, which are subtractions from GDP, expanded massively and and exports fell. Consumer spending was weaker than expected, suggesting that households balked at high prices. Inventories fell, subtracting from GDP.
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At the end of this article beneath the notes I have cited is "Actual Citation from Book," Complicity's notes from Chapter Six. The picture come from page 133.
TYPICAL OF THE UTTER BRUTALITY of the New England and New York slave trade carried on under the same American flag Yankees carried in the War Between the States, was "a flotilla of illegal slave ships" from the North to Rio de Janeiro around 1843.
One ship:
[A] New York brig named the Kentucky, arrived in Brazil drenched in blood from one of the most gruesome revolts ever recorded.1
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