[ASAP]

Originally Posted by 2000cs

Sorry, I was gone a few minutes tearing up my economics degree.

There is no official definition of stagflation. It is a political and media term, not one economists use rigorously. Loosely it means a combination of stagnant economic growth and high inflation, and nothing more than that. Neither “stagnant” nor “high” are specified. I offered my view of those above. But that is just my view.

so i guess this is just all opinion and why economists are no longer a highly regarded profession... i seem them going towards meteorological forecasters soon...

[2000cs]

Originally Posted by ASAP

so i guess this is just all opinion and why economists are no longer a highly regarded profession... i seem them going towards meteorological forecasters soon...

They/we never were. It was called the dismal science long before I took my first class.

With respect to forecasting the economy, the old joke is if you assemble a group of five economists and ask for their predictions, you’ll get at least seven forecasts.

And another: an economist, an engineer, and a landscaper are trapped in a hole. They each work on a plan to get out. After the engineer and landscaper describe various ways to dig, make stairs, etc., they ask the economist for his solution. He responds, “assume a ladder,…”

[ASAP]

Originally Posted by 2000cs

They/we never were. It was called the dismal science long before I took my first class.

With respect to forecasting the economy, the old joke is if you assemble a group of five economists and ask for their predictions, you’ll get at least seven forecasts.

And another: an economist, an engineer, and a landscaper are trapped in a hole. They each work on a plan to get out. After the engineer and landscaper describe various ways to dig, make stairs, etc., they ask the economist for his solution. He responds, “assume a ladder,…”

i think it would be an accurate profession if we had a true hands off economy... what no one can predict is what outside forces will move the market... i.e. govt support, bailouts, ppp etc... thats why ive always said we dont nor have ever had free markets, thats a made up story someone told someone else and it got spread