re: April jobs number 175k, well below 240k estimates. Markets rally

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Look up stagflation

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We throw this term around far too casually. We’re nowhere near such a phenomenon.

By definition it’s a combination of slowed growth, high unemployment and high inflation.

I’ll admit that growth feels slower despite some numbers being released. Unemployment is still at historic lows. And while our lens to the world tends to be the here and now; from a historical context inflation is not anywhere close to periods of stagflation. The 70’s era UK period that coined the term had years of 25% inflation and interest rates in excess of 15%.

I think many of us have lost sight of the fact that we’ve spent most of our adult lives where interest rates were at unprecedented low levels. Literally free money it seemed.

While the prospect of paying 7-8% on a home loan seems blasphemous to many. Odds are your parents happily refinanced to get that rate 30 years ago.

Not my intent to be argumentative; just find that term is often thrown about in the most sensationalist context.