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Those of us who weren’t around in the 70’s are about to get our first experience with stub or stagflation. Winning!!
Oh,
If you were not around in the 70’s you definitely missed the fun.
Sky high gas prices.
Really long lines and waits at the gas pumps.
Dealing with very angry people.
Alternate days for pumping gas depending on your license plate number.
The second oil shortage in the late 70’s is when the Japanese Car manufacturers made huge inroads into the U.S. auto market.
The Big Three were still making the big gas guzzling cars while the Japanese were making smaller more fuel efficient cars. Also, the quality of the Japanese made cars improved significantly.
If we didn’t have sanctions in place China would be doing the same with EV’s in the US market. The EVs they sell are cheap and have better specs. The American brands are unable to produce vehicles at that price/value.