There were Japanese businessmen on Maui paying taxi cabs to wait 4 or more hours at a time for them at Golf Courses on Maui I know then in 1989 and 1990. This preceded the Stagflation that hit Japan seriously in the 1990s. Before that rich Businessmen were riding high until Stagflation hit.
I think the U.S. because of all of Trump's economic policies including Tariffs is taking us to a similar place. When you try to manipulate world markets like Trump is with Tariffs you cannot help but create another Great Depression or Great Recession. When your ONLY motive is Greed like Trump everyone suffers sooner or later. Right now the poorer people all over the world are suffering and sometimes dying from Trump's policies. However, soon BECAUSE OF STAGFLATION everyone pretty much is going to suffer extreme hardships and sometimes death worldwide because of Trump's Greed and Isolationism.
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