We are currently experiencing stagflation with rising prices at the same time that output is falling in many parts of the world, with Europe already in a downturn, the United States entering a downturn, and China in some kind of economic downturn, making this a global economic crisis worse than 2008.
factualpending
Speaker
Jeffrey SachsEvidence Quote
“we're experiencing stagflation meaning that there are rising prices at the same time that output is falling in many parts of the world europe is already in a downturn the united states is entering a downturn china is in some kind of economic downturn so this is a global economic crisis and so i regard the overall economic situation as as bad as i've seen in decades worse than in 2008”
Source
Jeffrey Sachs: "We're in a crisis and it will get worse in the coming months."— Prague Finance InstituteCreated: 8/10/2026, 9:58:27 PM
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