Not even close.
Even if Q here with trip to migrate to TS, anon would just have to be done with Q. Not going to TS until/unless they don't require info
fiat PAIN. fractional reserve FEAR.
By the 1990s the Fed and the government had effectively upended the traditional calculation methods for inflation and, ever since, the CPI has been subdued. If we look at numbers from Shadowstats, which uses the same calculation methods that were used in the 1980s, we can see that CPI is actually closer to 17%. This makes much more sense given the dramatic increases in food and energy prices, as well as home and rent costs just in the past two years. The 1970's crisis peaked at around 14.5%.
It's also important to note that the crisis of the 1970s was the product of a decade long decline in the US economy. The real trigger event happened in 1971 when Richard Nixon fully removed the US dollar from the gold standard. It was not long after in 1973 that CPI rose to around 8%. By 1980 inflation was officially at 14%. Volcker and the Fed responded by dramatically increasing interest rates to a record high of 15.8% by 1981.
Recession hit hard and unemployment grew to 10%. High inflation followed by high interest rates also made manufacturing in the US difficult and likely helped to precipitate the exodus of factories from America to Asia.
The difference between the 1970's crisis and today's crisis is that we are facing far worse conditions. Our crisis started around 2008 after the credit bubble collapse, which facilitated an endless stream of bailouts and stimulus packages. The Federal Reserve has printed or created tens of trillions of dollars over the course of the past 14 years.