what we have here is
biflation, a combination of commodity inflation secondary to wage stagnation and easy monetary policy coupled with asset deflation secondary to a collapsed housing market and a stagnant labor market. thrown into this is a further reduction of individual discretionary capital secondary to rising tax burdens which are a result of falling tax revenues due to the aforementioned unemployment.
I’ve been saying that was what’s coming since obama was elected. Didn’t know there was an actual term (biflation) for it. After all, I’m not a formally trained economist, just a student of history with a strong empirical sciemce background. Maybe that’s why it’s so easy for me to see it coming. (In fact, the precursors are already here.)