Fotografia do Dia (XVI) – Estagflação

by manuel margarido

Stagflation is an economic situation in which inflation and economic stagnation occur simultaneously and remain unchecked for a period of time. The portmanteau “stagflation” is generally attributed to British politician Iain Macleod, who coined the term in a speech to Parliament in 1965. The concept is notable partly because, in postwar macroeconomic theory, inflation and recession were regarded as mutually exclusive, and also because stagflation has generally proven to be difficult and costly to eradicate once it gets started (Wiki Quote).
Fotografia captada em Rio Vista, Califórnia – a 8ª maior economia do mundo, se fosse um país soberano.

Construction work on a 750-home housing development in Rio Vista, California has been halted because the town is close to bankruptcy

Construction work on a 750-home housing development in Rio Vista, California has been halted because the town is close to bankruptcy

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