When Have We Seen Inflation Like This Before?

June 29, 2022

When have we seen inflation like this before? History just continues to repeat itself. We go over the best plan to follow.

Full Transcript:

Hello, welcome to Arista Advice! Question of the week is: "Paul, when have we seen inflation like this before?" Well, as you can imagine history just continues to repeat itself.

I'm sharing with you a cover of the Time Magazine in 1974. To be exact, it was October 1974. Here is a photo of President Carter rolling up his sleeves, and he's fighting back inflation, and what's causing inflation? The recession that had occurred and oil and too much government spending. So let's remember to be calm in a turbulent unknown market.

The best thing to have is a cool mindset to focus on the long-term picture of having the fundamentals of your financial plan in place. But as President Carter just has illustrated, inflation is here. It's been here before. It was back here in '74. We'll see it again in 10 or 15 years. It's the sign of an overheating economy. The Federal Reserve is working around the clock to slow it down and to enable us to have a soft landing.

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