Bell-bottom pants and disco weren't the only things to hate about the 1970s. In that difficult and turbulent decade, the United States was thoroughly bedeviled with a crippling economic condition known as "stagflation." It's a weird (that's the only word for it) and intractable combination of stagnating growth combined with inflation. And unfortunately, unlike Richard Nixon, stagflation's got a high likelihood of coming back. If that sounds shocking, or maybe even unbelievable, I understand. You see, before the stagflation of the 1970s, mainstream economists were actually convinced the condition was itself impossible. The academic consensus at the time was that inflation and growth were inseparable. But as that decade proved, recession and inflation can absolutely happen concurrently. If you lived through the era, you'll agree it's no exaggeration to call it the worst of both worlds. Of course, when you understand how it unfolded and devastated the U.S. economy in the 1970s, you'll immediately see why it'll likely recur soon. Don't worry - I'm going to share with you my favorite, inexpensive way to shore up your position when this "blast from the past" returns to wreak havoc all over again... Tags: Stock Market Crash Insurance To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2018 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post This Specter from the 70s Could Return to Eat Your Wealth appeared first on Money Morning - We Make Investing Profitable .