The stagflation word was just debated again on CNBC. It is amazing that the US nominal GNP is growing at about 6.2%, a very high rate and after adjusting for inflation, it is growing at about 3.4% and yet folks are discussing stagflation!
The word was invented years ago during the Carter administration. There was a time when the inflation rate was virtually equal to the nominal economic growth rate; in other words our economy had no real growth. We are no where near that level now.
Use these time of worry to buy stocks!
Tuesday, May 10, 2005
TUESDAY WITH MURRAYS--CNBC
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