stag / fla / tion: (n) sluggish economic growth coupled with a high rate of inflation and unemployment.

CNN gives us this happy news, headlined with “Economy much weaker than expected.”

For those who were born before 1980 Investopedia provides a bit of historical context: “[Stagflation is] not a good situation for a country to be in. This happened to a great extent during the 1970s, when world oil prices rose dramatically, fueling sharp inflation in developed countries. For these countries, including the US, stagnation increased the inflationary effects.”

Don’t worry, though: the big retailers are going to take care of us.

Tags: 70s, economy, inflation, Rachel Powers, recession, stagflation, walmart