an inflationary period accompanied by rising unemployment and lack of growth in consumer demand and business activity that is belied by antithesis government statistics that are rejected by a population that no longer believes a word government utters, and insists on real measures, until the point that prices rise to where paper money no longer has any significance to any purchase.
The United States succumbed to nagflation in 2014 once Russia and China declared petrodollars null and void.
by OldPhart OutIn TheDesert May 22, 2014